AJ100 practice Chapman Taylor saw a 35 per cent drop in pre-tax profits last year, as revenue from foreign projects fell
The practice has reported profits down to £2.26 million in the year ending 30 June 2016, down from £3.49 million last time.
The firm also saw a small drop in turnover – down from £31.1 million to £30.1 million – over the period.
A statement from the firm said: ‘Despite small declines in revenue in certain markets, Chapman Taylor delivered another strong performance in 2016.’
Turnover in the UK rose from £7.47 million to £9.11 million, but this was cancelled out by falls in turnover in other European countries (down from £13.80 million to £11.59 million) and the rest of the world (down from £9.86 million to £9.42 million).
The average number of architectural staff employed by Chapman Taylor rose from 260 to 275 over the year.
The practice said that the current trading year was likely to be busy, having picked up projects including Chinese theme park Global 100, and Plaza Rio 2, which is set to become Madrid’s largest shopping centre.
In its report the firm said it would set up a new company in Dubai to support its activities in the Middle East. ‘This will allow us to provide a strong presence in the region, which is still growing economically,’ it said.
The practice is currently masterplanning Salford’s MediaCity UK, the second phase of which – a £1 billion expansion – was approved in September.