The latest accounts for Make Architects show that both the company’s turnover and profit shrank in the last financial year
The AJ100 practice reported a 10 per cent drop in its income for the year ending 31 December 2016, with its turnover falling from £22.3 million in 2015 to £20.2 million.
The figures, which cover the six-month periods before and after last June’s EU referendum, also show that profits after tax fell for the second year running.
The company posted a profit of £559,089 for 2016 – down from £716,748 in 2015, itself a fall from £1,179,945 in 2014.
Headcount also dipped at the 13-year-old practice, which is headed by Ken Shuttleworth and has again been shortlisted for the annual AJ100 Employer of the Year award. The report showed the company employed 11 fewer staff members in 2016 compared with the 167 employed in 2015.
This drop follows a number of redundancies made from Make’s London office in the wake of the referendum result.
Despite the falls, the company insisted that the second half of the year had been buoyant and that work had returned after the Brexit vote.
A statement accompanying the accounts reads: ‘There was a slight decrease of 10 per cent in revenue compared to 2015 in the period immediately after the EU referendum which brought a slowdown to workstreams.
‘The overall effect on turnover was not as marked as the initial impact though, with our order book picking up again by late summer. This has continued into 2017, although we remain watchful of over-confidence in the market. Our balance sheet remains robust enough to absorb any potential shocks or changes to the market due to Brexit in the coming years.’
’Our balance sheet remains robust enough to absorb any potential shocks due to Brexit in the coming years’
Make’s recently opened office in Sydney, Australia has fared even better, doubling its turnover and increasing its number of partners from 2 to 14.
Among the schemes in the pipeline in the UK are a £22 million gallery in Swindon, a pair of 25-storey towers on London’s Albert Embankment and the contentious high-rise proposals in central Manchester for footballers turned developers Gary Neville and Ryan Giggs.
In March Lambeth Council approved a pair of 25-storey towers designed by Make on London’s Albert Embankment