Practice points to double-digit cost increases as turnover remains “consistent” with 2022
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.
The practice, which marked its 70th anniversary last year, increased group headcount from 291 to 319 over the period covered by the report. A breakown of the 2023 figure listed 280 production staff, 37 administrative staff and two directors.
During the 2022-23 trading period Ryder acquired Doone Silver Kerr, which it said at the time had increased group headcount by 10.
Managing partner Mark Thompson said the practice was pleased to have achieved turnover broadly in line with 2022’s figure “given the extent of ongoing global, economic and political challenges”.
“Although our profits reduced, we are confident in a more robust pipeline for the coming year and have continued to invest in strengthening the breadth and depth of expertise in our teams,” he said.
“In the year ahead, we hope to see a stabilised economy and a commitment from the UK government to much needed-investment in education and healthcare – two of our key sectors – which would unlock new and delayed projects and opportunities, and provide much needed confidence to the private sector.”
Thompson added that turnover for the months ahead looked “stronger than at this point last year” but cautioned that it remained “as difficult as ever to confidently predict”.
In addition to UK offices in Newcastle, Glasgow, Manchester, Liverpool and London, Ryder has studios in Vancouver and Hong Kong.
Current projects for the practice include the National Rehabilitation Centre in Loughborough, Dumfries High School, several commissions for the University of Liverpool, and a first-of-its-kind build-to-rent scheme in New Zealand.
Recent completions include the OMA-designed Factory International events venue in Manchester – now rebranded as Aviva Studios, on which Ryder was executive architect.
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