Architect cuts losses and says revenue will be up in 2020
David Chipperfield Architects has reported a second year of pre-tax losses despite increasing turnover, according to the practice鈥檚 latest annual results.
The practice behind a new headquarters for watch firm Rolex in New York and the renovation of the Piazza San Marco in Venice narrowed losses to 拢546,500 in the year to December 2019 from 拢1.5m in 2018.
Revenue was up to 拢8.3m from just under 拢7m in 2018.
Turnover in the firm鈥檚 Europe and Middle East region was up 68% to 拢2.91m but UK income dipped by around 拢126,000 in 2019 from the previous year鈥檚 拢4.37m. North and South American revenue was up by 42% to 拢968,827.
A strategic report by the practice said the increase in EU work was 鈥渓ikely to continue鈥� but acknowledged the potential for risks associated with Brexit to become a factor.
Chipperfield director William Prendergast said that the worldwide fallout from covid-19 had not affected the practice in any major economic way.
鈥淲orking from home has been successfully achieved with very little impact on current projects,鈥� he said.
鈥淚n 2020 we expect turnover to be in the region of 拢9m and we already have secured work in 2021 of 78% of 2020 turnover.鈥�
Chipperfield, which employed 79 people during the period, said per-head architect fees were up 9.6% on the previous year to 拢155,721.
Last month, David Chipperfield was made a Companion of Honour for services to architecture, one of the highest honours possible to bestow, and which can only be held by a maximum of 65 living people at one time.
Its scheme for Qatari Diar to turn the former US embassy at 30 Grosvenor Square in London into a luxury hotel is finally due to start on site next month when Multiplex begins work on the 拢400m main construction contract.
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