David Chipperfield Architects’ turnover and staff numbers have fallen by a quarter, according to the company’s latest accounts
The 25 per cent drop in revenue, from £9,823,030 in 2012 to £7,412,812 in the year ending December 2013, coincided with the ‘successful completion’ of a number of key projects, including the Museo Jumex in Mexico City and One Pancras Square at King’s Cross in London.
Although profits ballooned from £71,000 to £394,717, the workforce shrunk from 120 to 92 people.
According to the directors’ statement, the office had been ‘reduced in size, stabilised and [showed] a greater profit margin’ creating ‘strong foundations on which to build the future’.
The document reads: ‘The focus for the following years is on securing a reliable profit margin.
‘We have a stronger national [UK] client base than in previous years when a greater percentage of work was international.’
Among the practice’s current home-grown projects is a large residential scheme on the Colville Estate in Hackney, designed with Karakusevic Carson Architects (AJ 01.08.14), and the overhaul of the east side of Selfridges’ flagship Oxford Street store in London (AJ 05.06.14).
Chipperfield took home a director’s dividend of £460,000 in 2013 - a rise from £280,000 in 2012.