Zaha Hadid Architects’ latest company accounts show profits fell by more than 14 per cent on turnover down 6 per cent to £46.6 million
Figures posted by Zaha Hadid Holdings for the year to 30 April 2016 – a month after practice founder Zaha Hadid died – show its income had fallen from £49.6 million, with workload in Asia sinking from £16.8 million to £11.7 million and turnover in the Middle East down from £20.2 million to £16.8 million.
Profit after tax decreased from £4.4 million to £3.8 million at the AJ100 company. The wages bill edged up from £18.8 million to £19.6 million, despite the practice’s workforce shrinking for the second year running. In 2014 the company employed 418 staff; the headcount had dropped to 379 according to the latest figures.
However, the figures do not include a number of major jobs which the practice won after April last year, including a new all-timber stadium for Forest Green Rovers football club, a 8,780m² cultural centre in Diriyah, Saudi Arabia, a technopark near Moscow and a £25 million cultural quarter in Bournemouth.
The group’s strategic report said the company currently had 25 projects on site around the world – a record for the practice – and another 28 in design development. The company claimed a further 12 new schemes would be revealed in the coming months.
The report says: ‘The management of resources in line with clients’ requirements and on-going assessment of skills has placed [the practice] in a very competitive position, with the flexibility to adapt and successfully target new markets and sectors.
‘New offices in Dubai and Mexico have been established to service these burgeoning markets, while the practice benefits from its investment, upgrading and implementation in IT and infrastructure.’
It concludes: ‘Collaborating with visionary clients and industry experts worldwide, [the practice’s] hugely talented and dedicated teams of experienced professionals honour Hadid’s legacy, working with passion and commitment to design and deliver transformational projects on six continents.’
The document states that the ultimate controlling party of Zaha Hadid Holdings remains the estate of Zaha Hadid – a £70 million estate with business partner and current practice principal Patrik Schumacher the only named non-family beneficiary.
In November Schumacher’s provocative stance on social housing, which he aired at the World Architecture Festival in Berlin earlier this month, made international headlines and resulted in protests outside the practice’s offices in Clerkenwell.
Patrik Schumacher at waf