UK workload slumps nearly a fifth in 2016
Architecture practice Make has admitted last year鈥檚 decision to leave the EU hit revenue by as much as 10% in the weeks after last June鈥檚 referendum.
The firm鈥檚 plans for 40 Leadenhall 鈥� nicknamed Gotham City 鈥� in the City of London was one of the schemes that got caught up in Brexit jitters and in a note accompanying its latest report and accounts, the firm said: 鈥淭here was a slight decrease of 10% in revenue compared to 2015 in the period immediately after the EU referendum, which brought a slowdown to work streams.鈥�
But Ken Shuttleworth鈥檚 firm said workloads picked up by the end of last summer, which it said had continued into this year although it added: 鈥淲e remain watchful of over-confidence in the market.鈥�
Overall UK workloads were hit last year with revenue falling 18% to 拢15.7m, but turnover in Europe, the Middle East, Asia and Australia were all up. Income from India tumbled to just 拢94,000 from 拢678,000 last time.
Overall revenue in the year to December 2016 slipped 9.5% to 拢20.2m while pre-tax profit fell from 拢161,000 to just under 拢36,000.
Close to three-quarters of its UK work is in London 鈥� earlier this year the firm was given planning for a 37-storey tower at 1 Leadenhall 鈥� but the firm鈥檚 plans to branch out of the capital are paying off with 27% of UK revenue now from outside London 鈥� compared to just 6% in 2013.
One of its schemes outside London is the controversial Jackson鈥檚 Row development in Manchester which is being masterminded by Manchester United footballers-turned-developers Gary Neville and Ryan Giggs.
In March, Neville said it would look again at the plans which have drawn the ire of a host of heritage groups including the government鈥檚 heritage watchdog Historic England.
Make said overheads had reduced 拢700,000 following studio moves in London and Hong Kong in 2015. The firm鈥檚 wage bill fell to 拢11.8m from 拢12.8m with the number of staff at the business standing at 156 from 167.
The salary of the highest paid director, who is not named, fell from 拢860,000 to 拢771,000.
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