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Overall revenue and profit “hold steady” despite limited growth, but pay gaps widen at big firms
Architects have reported a further decline in revenue from international work in the latest RIBA Business Benchmarking survey, with last year’s 14% fall compounded by an additional 2% drop.
Because data for the annual reports covers RIBA chartered practices’ experiences in the 12 months to May each year, its 2021 and 2022 Business Benchmarking results are a snapshot covering the first whole-year periods since the UK’s formal departure from the European Union.
According to the figures, revenue from international work was £524m last year, down from £535m in 2021, and £624m in 2020. Survey respondents reported international-work revenue of £625m in 2019, meaning the latest figures are the third consecutive year of contraction. However 2019 saw practices’ international revene surge 22% on the previous year.
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