Rogers Stirk Harbour + Partners (RSHP) has suffered a 27 per cent fall in pre-tax profit, its latest annual accounts have revealed
Richard Rogers’ practice posted £5.1 million of profit before tax for the 12 months to 30 June 2018 – down from £7 million the previous year.
Turnover at the company – which designed and is based from London’s iconic Leadenhall Building – dropped 8 per cent to £28.8 million over the same period.
The AJ reported last summer that RSHP was set to axe up to 20 jobs, saying the economic climate after the UK voted to leave the EU had led to increased delays and uncertainties on a number of domestic projects.
Figures in the latest report show that total staff numbers dropped from a monthly average of 203 in 2016/17 to just 181 over the following year. Architect numbers dropped by 23 over that period to 114.
UK income fell 12 per cent last year to £13.6 million in the 12 months to the end of June 2018.
European income was up 27 per cent to £6 million; North American turnover more than doubled to £2.6 million; and a major breakthrough was made in Australia, where the practice moved from earning less than £200,000 in 2016/17 to making £3.6 million in the latest year.
Income from the remainder of the world fell dramatically from £10 million to just £3 million.
RSHP has been contacted for comment on its results.
The RIBA Stirling Prize-winning practice last month revealed images of its proposed overhaul of South Kensington Tube station in south-west London (pictured).
Earlier this year its International Spy Museum opened in Washington, USA.
Rogers Stirk Harbour + Partners’ proposals for South Kensington Tube station redevelopment
Source: Rogers Stirk Harbour + Partners