HOK blames Brexit for operating losses

HOK's Valencia basketball club building

Crick Institute architect posts fourth annual operating deficit

HOK International has reported its fourth annual operating loss in a row, with the firm pointing the finger at economic uncertainty caused in the run-up to Brexit.

The practice, which has yet to officially publish its latest figures at Companies House, said turnover for the year to 29 December 2017 remained flat at £19.4m and an operating loss of £454,580. Gross profit fell 7% to £8m.

A spokesman said HOK managed to cut the majority of its operating deficit, which last year came in at £2.3m, by “better management of projects”, while the firm’s headcount was reduced from 123 to 114.

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