Turnover fell by 62% in 2024 in ’challenging year’

Adjaye Associates’ losses more than doubled last year as the firm cut its staff numbers in the UK by half, according to its latest accounts.
The practice’s UK business employed an average of 32 architects in the year to 31 December 2024, down from 63 architects in the year before, new documents filed at Companies House reveal.
It reduced its communications and graphics team from five to two and cut its three-person research team to a single employee, with the total number of staff employed by the firm in the UK sinking from 85 to 47.
The firm’s turnover fell by 62%, from £17.1m in 2023 to ££6.4m, while its loss before taxation rose from £720,000 to £1.84m.
Its turnover in the Middle East crashed by 84%, from £13m to £2.13m, fell by 85% in the UK, from £984,000 to £150,000, and more than halved in Africa, falling from £1.45m to £680,000.
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But the firm fared better in other regions, with turnover rising almost tenfold in Europe, from £75,000 to £706,000, more than doubling in Australasia, from £994,000 to £2m and ticking up in the Americas from £641,000 to £715,000.
The results come after the practice separated its business into three entities based in London, New York and Accra, with its international turnover representing income streams which were left over from before the separation.
The firm said its UK results had come during a “challenging year for the UK construction sector, marked by falling output, rising costs, and a sharp decline in project starts across both public and private sectors.”
It added: “High inflation, tighter budgets, and delays in public funding created a tougher environment for design and architecture practices reliant on cultural and civic commissions.”
The firm said its drastically reduced staff count reflected a business “now operating with a leaner structure and greater operational flexibility”, adding that it was confident in its ability to translate its “strengthened foundations” into a return to profitability in 2026.
The accounting period covers the aftermath of allegations of sexual misconduct towards three women which were made against practice founder David Adjaye in July 2023, which he has consistently denied.
The accusations, first published in the Financial Times, led to the practice being dropped from a number of high profile projects including the £57m International Slavery Museum in Liverpool.
The fallout from the story also led to Adjaye stepping down from a number of key roles including as design advocate for the Mayor of London.
Adjaye Associates said the accounts “do not reflect the full financial or operational performance of Adjaye Associates as a global practice.
“Across our international studios, we continue to deliver a substantial portfolio of projects and remain focused on our clients, our teams, and the ongoing progression of work in all regions where we operate.”








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