Architect says income in 2024 will be lower than last year鈥檚 拢25m
Architect RSHP has said it expects the UK and Middle East to have accounted for a greater share of its income by the time it publishes its next set of annual numbers.
In its latest accounts, the firm said turnover last year stayed flat at 拢25m with its biggest market remaining the UK with revenue of 拢7.2m, up 11% on last time.
The firm behind the planned extension to the British Library added that it had managed to shrug off the impact of rising costs in the UK: 鈥淭he UK market has remained strong for us and we have secured more work than we had previously projected.鈥�
But it warned that overall turnover 鈥渨ill be lower than 2023 whist anticipating that costs will continue to rise due inflationary effects鈥�.
And it said: 鈥淲e have noticed that overall activity levels are reduced, new projects are slow to start and existing projects are subject to increased delays between stages.鈥�
After the UK, its biggest markets are the Middle East and China. Turnover from the Middle East jump by nearly half to 拢6.4m but a slowdown in China saw work there fall a third to 拢3.3m.
Pre-tax profit was down a third to 拢2.3m with the firm putting the fall down to increased cost.
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