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Rogers warns of Brexit threat to practice as profits dip

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Uncertainty over the impact of Brexit on recruitment threatens the UK architecture sector’s standing in the world, according to Rogers Stirk Harbour + Partners (RSHP)

Financial results for the practice’s holding company to the end of June 2016 show pre-tax profits dipped to £6.9 million, down from £7.6 million the previous year. Turnover fell from £34.9 million to £32.2 million over the same 12-month period.

In a statement accompanying the figures, senior partner Andrew Morris described a ‘period of readjustment’ relating to the firm’s ability to retain and attract staff.

He said that ‘a significant portion of our non-UK staff [are] seeking to naturalise and obtain UK passports where possible.

‘We are worried about how Brexit will affect not only our own recruitment and retention of the best architectural talent from across the Eurozone but also how it will affect the UK architecture industry as a whole.’

He continued: ‘The Brexit vote in June has added to the level of uncertainty for the architecture market both at home and abroad.’

The practice worked in 17 different countries during the financial year, with more than 200 staff members drawn from 30 different companies ‘in line with our intention that the practice seeks out the best young talent in the world.’

However, he added that the fall in the value of Sterling had benefited the practice, ‘as most of our international projects are contracted in currencies other than Sterling.’

During the year, the practice completed the Barangaroo development in Sydney, Australia.

RSHP's InternationalTowers in Barangaroo - completed in late 2016

RSHP’s InternationalTowers in Barangaroo - completed in late 2016

RSHP’s InternationalTowers in Barangaroo - completed in late 2016

The firm also completed the BBVA Bancomer Tower in Mexico City, while World Trade Centre Tower Three in New York had its topping out ceremony in July 2016.

Work progressed on Macallan Distillery in Scotland, the London School of Economics extension in London, the Spy Museum in Washington DC and Lyon-Saint Exupéry Airport Terminal One.

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