Architect reports drop in revenue from UK
Hopkins Architects has reported a 68% jump in pre-tax profit to 拢2m in 2012.
In accounts filed at Companies House Hopkins Architects Partnership, which designed the London Olympic Velodrome, reported a pre-tax profit of 拢2.1m in the year to 31 March 2012, up from 拢1.3m the previous year.
However, the practice also reported a dip in turnover to 拢8m, down from 拢8.7m over the period
Founding partner Michael Hopkins said in the accounts that the profit was driven by 鈥渟ignificant operations savings and efficiencies throughout the business鈥� and a clutch of new work.
He said: 鈥淭his has enabled us to confidently face the ongoing challenges of the recession and its effect on market conditions both at home and abroad.
鈥淎s a result we have, as a group, maintained and improved our profitability within a huge competitive market despite a small decrease in turnover.鈥�
The firm saw a decrease in turnover from the UK to 拢6m from 拢6.8m but an increase in revenue from outside of Europe to 拢1.7m, up from 拢1.1m.
It also reported a rise in average staff numbers from 76 to 84 over the period.
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