Slump blamed on Brexit vote and taking on more staff
Feilden Clegg Bradley Studios has said profit slipped last year as workloads were hit by the result of last year’s referendum on the EU.
The architect said revenue remained at a record £17.2m but added that expanding its London premises, taking on more staff and a slowdown in work following the Brexit vote all took their toll on profit which slumped more than a third to £2.2m.
But in a note accompanying its accounts for the year to March 2017, the firm said: “We are very optimistic about the strength of our future workload including international work.”
Work from outside the UK broke through the £1m barrier last year, increasing by more than 40% on the £770,000 of business it racked up overseas last time.
The number of staff employed by the business went up close to 10% to 175 while the salary of the highest-paid employee, who is not named, was just under £178,000.
The Stirling Prize-winning practice, which won the award back in 2008, is carrying out work to refurbish the Southbank Centre in London. It is also working on a £27m makeover of Alexandra Palace in north London, where work includes restoring a Victorian theatre.