Rogers Stirk Harbour + Partners has released its strongest set of results yet with both turnover and pre-tax profit up a quarter on last year鈥檚 figures, writes Dan Stewart.

However, the practice sounded a note of warning, saying the credit crunch might make the commercial sector far more competitive for architects.

RSH+P turned over 拢29m in the year to 30 June 2007, a 26% rise from 拢22.9m the year before.

Pre-tax profit hit 拢1.61m, a 25% improvement on last year鈥檚 best ever figure of 拢1.29m.

Andrew Morris, commercial director of RSH+P, said the practice had hit a 鈥渞ich vein of form鈥� in the past year. The practice increased its work abroad, with turnover from projects outside Europe increasing by 218% to 拢2.9m thanks to the commission of a 拢700m mixed-use scheme in Seoul, South Korea.

Activity in the UK worth 拢18.8m accounted for 65% of the practice鈥檚 turnover, but Morris said this would be more like 50-55% in 2008. 鈥淭here is a conscious effort to make sure the work is well spread 鈥� we don鈥檛 like having all our eggs in one basket,鈥� said Morris.

But the company also warned in its annual report of an increasingly difficult future for architects working in the commercial sector. It said:

鈥淭he external commercial environment is expected to become more competitive in 2008, as a consequence of the sub-prime lending crisis reducing the amount of loan financing available for property developments.鈥�

Morris, however, played down the credit crunch: 鈥淥ne has to be conscious of the environment we鈥檙e in. But there are no major calamities on the horizon. It would have to be a catastrophe for us to catch a cold.鈥�