Ken Shuttleworth’s practice Make has increased its staff numbers by 14 per cent in the last financial year, according to the company’s latest accounts
More from: Staff numbers up but turnover dips at Make
However the outfit’s turnover in the year ending 31 December 2014 dropped by nearly £900,000 to £17.7 million from the record £18.6 million it posted in 2013.
Profit before taxation also fell from £969,000 to £101,000 in the same period.
The dip has been put largely down to a ‘general slowdown in China’ where revenue almost halved from £1.36 million to £710,000.
But with a raft of major schemes under construction, the company has continued to add to its workforce and has seen the number of its employees grow from 133 in 2013 to an all-time high of 151 this year.
The practice, which has recently moved its London office into a converted subterranean car park and its Hong Kong outpost into new studio space, confirmed that it was looking to further increase and was currently recruiting.
A spokesman for Make said: ‘[We have] had a buoyant 11th year. We had 16 buildings on site in 2014 which is the highest number of projects under construction in Make’s history.
‘Headcount reached record levels…in order to meet the higher demands of projects on site.
‘Our presence has grown in Hong Kong and Australia where the markets are strong and we are delivering substantial projects; this has been offset by a general slowdown in China.’
Make ended the year with net assets of more than over £5 million.
Previous story (AJ 02.05.14)
Another bumper year for Make as profits and turnover soar
The company, which celebrated its 10th anniversary this week, posted a hike in profits after tax from £356,426 to £703,537 for the year ending 31 December 2013.
Owned entirely by its 133 staff, the practice also saw its turnover rise from £14.6million in 2012 to £18.6million during 2013.
Almost half of its £4.1million growth in fee income came from new work in London.
However, with the exception of Australia and Canada, the outfit’s overseas workload fell. Revenues dropped by two thirds in Europe and the Middle East and its income in India and China also dipped.
In the trading report posted this week at Companies House, the directors also highlighted a 40 per cent increase in overheads ‘mainly due to the move of our London office to bigger premises’ and the closure of its Birmingham office ‘due to the slowdown of regional work’.
Barry Cooke, financial director at Make said: ‘Our income is now at a similar level to that pre-recession.
‘We remain committed to our people as we expanded our headcount by 10 per cent and augmented training expenditure by 74 per cent in the year.’
On Wednesday more than 400 people joined the practice in its soon-to-be new studio in central London - a former basement car park in Cleveland Street.