Ryder Architecture has posted a 69% fall in profit in its latest annual accounts, on revenue slightly reduced from the previous year.

The Newcastle-headquartered practice reported profit before tax of £1.5m for the year to 30 April 2023, a hit of more than two-thirds from 2022’s £4.9m.

Turnover dipped by 2% over the same period from £30.9m to £30.2m, which the firm said essentially made the years “consistent”. Ryder cited cost increases of 18% – exclusive of sub consultants – among the pressures facing the business.

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