Feilden Clegg Bradley Studios (FCBS) has seen its profits drop by more than a third – a fall attributed by the practice to ’significant investment’ in its growth
According to the Bath-based company’s accounts for the year ending 31 March 2017, its operating profits fell to £2.2 million – a 38 per cent drop from the £3.5 million posted in the previous year.
During the same period, turnover remained largely flat at £17.2 million, matching the record income posted the year before.
A statement by FCBS’s managing partner Geoff Rich which accompanies the accounts reads: ’During the period we saw a dip in our profits as we invested significantly in the growth of the business to deliver our sustained workload, including larger London premises and growth in staff number across our four offices.’
The figures show that the practice’s headcount of architects and support staff increased from 161 to 175 year on year, meaning the company’s workforce has grown by more than a third since 2015, when it had 127 staff.
The company admitted that it had not gone unscathed by the vote for Brexit, adding: ‘Like many others in the architectural sector we experienced some of the impact of the European Referendum vote as some commissions progressed more slowly than anticipated.
‘However, looking ahead, we are very optimistic about the strength of our future workload including international work.’
Among those jobs is a 1,200-place school with residential facilities on a 20-acre site near the centre of Dhaka, Bangladesh, for Aga Khan Academies (visualisation below).
Aga khan academy copyright feilden clegg bradley studios and aga khan academies (7)