{"id":766263,"date":"2024-12-04T15:07:48","date_gmt":"2024-12-04T15:07:48","guid":{"rendered":"https:\/\/www.architectsjournal.co.uk\/?p=766263"},"modified":"2024-12-04T15:11:00","modified_gmt":"2024-12-04T15:11:00","slug":"wilkinsoneyre-sees-profits-plunge-as-staff-costs-soar","status":"publish","type":"post","link":"https:\/\/www.architectsjournal.co.uk\/news\/wilkinsoneyre-sees-profits-plunge-as-staff-costs-soar","title":{"rendered":"WilkinsonEyre sees profits plunge as staff costs soar"},"content":{"rendered":"

The AJ100 practice, which has studios in London, Hong Kong and Sydney, published its results for the year to 31 March 2024 last week.<\/p>\n

These showed that pre-tax profit had plunged from \u00a34.8 million in the previous period to \u00a32.9 million in the latest spell. In 2022 the figure was \u00a35.3 million.<\/p>\n

Revenue increased by 4 per cent to \u00a324.5 million over the same timescale.\u00a0But employment costs soared by a third to \u00a312.2 million, while director remuneration more than quadrupled to \u00a31.7 million. Staff numbers rose in the latest year with an average of 25 more architects employed by the practice.<\/p>\n

WilkinsonEyre converted to an employee-owned trust in March 2023.<\/p>\n

Managing director Oliver Tyler said work had continued at \u2018a similar intensity\u2019 and that the continued trend was for the proportion of new jobs coming from overseas to rise.<\/p>\n

However, UK turnover rose by 18 per cent to \u00a315.6 million in the latest year, while revenue from abroad dropped 15 per cent to \u00a38.8 million.<\/p>\n

Tyler told the AJ: \u2018As with the rest of our industry, we have experienced particularly challenging market conditions over the last two to three years.<\/p>\n

\u2018While we have seen our turnover remain very stable over this period, we have seen profitability drop as costs continue to rise.\u00a0 However, having promoted the practice through the success of completed projects such as Battersea Power Station and 8 Bishopsgate, we forecast that we will meet our growth targets and profits will be up for this financial year.\u2019<\/p>\n

As well as the Bishopsgate scheme (pictured below<\/em>), WilkinsonEyre also completed the 21 Moorfields<\/a> office development in the City of London.<\/p>\n

A number of the practice\u2019s projects are live in the UK, the US, Canada, France, Germany, Hong Kong, Australia and elsewhere.<\/p>\n

In October, deputy prime minister Angela Rayner called in<\/a> plans by WilkinsonEyre for a \u00a3750 million film studio on green-belt land in Buckinghamshire, which was refused by the local council earlier this year.<\/p>\n

\"\"

8 Bishopsgate by WilkinsonEyre<\/p>\n\t

Source:Dirk Lindner<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The AJ100 practice, which has studios in London, Hong Kong and Sydney, published its results for the year to 31 March 2024 last week. These showed that pre-tax profit had plunged from \u00a34.8 million in the previous period to \u00a32.9 million in the latest spell. In 2022 the figure was \u00a35.3 million. Revenue increased by …<\/p>\n","protected":false},"author":104183,"featured_media":730209,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_oasis_is_in_workflow":0,"_oasis_original":0,"ep_exclude_from_search":false},"categories":[681],"tags":[2514,3162,1614],"yoast_head":"\nWilkinsonEyre sees profits plunge as staff costs soar<\/title>\n<meta name=\"description\" content=\"WilkinsonEyre has revealed a 43 per cent drop in pre-tax profit as staff costs soared in its first year of employee ownership\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.architectsjournal.co.uk\/news\/wilkinsoneyre-sees-profits-plunge-as-staff-costs-soar\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WilkinsonEyre sees profits plunge as 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