Eric Parry Architects, the practice behind 1 Undershaft and 120 Fenchurch Street in the City of London, insisted this year would be positive despite posting a £1.5m pre-tax loss in 2018.

Describing last year as one of “investment and readjustment” in its reports and accounts filed with Companies House, the practice said reduced workloads had forced it to cut staff numbers from 94 to 80 in the year to the end of July 2018.

Eight of the firm’s 68-strong professional team were let go, along with five support staff and one from the management team.

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