Ryder Architecture profit jumps by 60%

Ryder Architecture profit jumped by 60% in the 12 months to April last year, the firm has revealed in its latest published accounts.

The Newcastle-based practice brought in £2.4m in pre-tax profit during the period, up from £1.7m the previous year.

Turnover also rose by 4.6% to £31.6m, up from £30.1m in the previous 12 months.

It followed a 69% fall in profit in its previous accounts for the year to 30 April 2023, when it also saw turnover dip by 2%.

The firm’s managing partner Mark Thompson said it had been a “tough geopolitical climate” for businesses but he was now seeing signs of projects moving forward.

“We feel like we’ve been treading water for the past two years as clients continue, understandably, to err on the side of caution amid inflation, interest rates pressures and increased bureaucracy and legislation in response to Grenfell,” he said 

“However, there’s now a sense that projects are starting to progress, but still not at the pace required to generate long term confidence.”

Turnover in the UK rose from 28.6m last year to 29.3m in 2024, while its income from the rest of the world grew from £1.6m to £2.3m.

Major ongoing projects underway in the UK include a new office for HMRC in Newcastle called Pilgrim’s Quarter, the National Rehabilitation Centre for Nottingham University Hospitals NHS Trust and plans to transform a West End building on Haymarket into a hotel for property tycoon Asif Aziz.