{"id":768941,"date":"2025-01-03T09:54:42","date_gmt":"2025-01-03T09:54:42","guid":{"rendered":"https:\/\/www.architectsjournal.co.uk\/?p=768941"},"modified":"2025-01-06T08:46:45","modified_gmt":"2025-01-06T08:46:45","slug":"ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts","status":"publish","type":"post","link":"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts","title":{"rendered":"AHMM posts another loss but predicts return to profitability after job cuts"},"content":{"rendered":"

Accounts published at Companies House last week for the year ending 31 March 2024 show the company made a pre-tax loss of \u00a31.4 million \u2013 the fourth year in a row<\/a> the company has been in the red.<\/p>\n

However, this loss was less than the \u00a31.78 million deficit posted in the previous 12 months. The fourth-largest architecture practice in the AJ100, whose revenue fell slightly from \u00a349.9 million to \u00a347.9 million over the same period, said \u2018sustained global economic challenges\u2019 had led to a 23 per cent cut in employee numbers and a reduction in office space.<\/p>\n

AHMM blamed its latest loss on one-off costs of restructuring, claiming the move had returned the business to profitability.<\/p>\n

Costs associated with the \u2018significant restructuring\u2019 made during the accounting period totalled \u00a33.2 million, with \u00a31.1 million in \u2018redundancy-related payments\u2019 and a further \u00a32.1 million in payroll costs associated with those job cuts, the directors said in a foreword to the accounts.<\/p>\n

AHMM spent a further \u00a3800,000 exiting office space at the White Collar Factory studio in Old Street, Shoreditch, east London, which it designed and completed in 2017.\u00a0<\/span><\/p>\n

The practice said the one-off nature of the redundancy programme and giving up the White Collar Factory studio meant the business had \u2018returned to profitability in the current year\u2019 and was \u2018on a renewed and stable financial footing for the future\u2019.<\/p>\n

The income recorded in the latest accounts was the practice\u2019s third-highest ever turnover on record. Yet, the practice has not returned to pre-pandemic levels of turnover, when it reported an income of \u00a355.3 million in 2020.<\/p>\n

AHMM told the AJ that ongoing \u2018global economic challenges in the construction sector\u2019 and work being paused or delayed had presented challenges over the 12 months, prompting two rounds of redundancies<\/a>.<\/p>\n

Before these job cuts, the practice recorded a headcount of 524 staff across the UK. That figure rose to 551 before falling by 23 per cent to 422, the directors said. Redundancies were both compulsory and voluntary.<\/p>\n

Directors acknowledged the difficult financial year in a strategic report, which highlighted domestic and international challenges to the economy and profession.<\/p>\n

The combined pay of the company\u2019s directors decreased during the period, going from \u00a32.6 million to \u00a31.8 million. The highest-paid AHMM director took home \u00a3373,687 \u2013 a 17 per cent decrease on the \u00a3449,535 of the previous year.<\/p>\n

AHMM earned more money in the UK \u2013 \u00a341.1 million \u2013 than any other architecture practice except BDP<\/a> (\u00a396.9 million) for the financial year ending 2023. BDP\u2019s accounts for the last financial year have not yet been published.<\/p>\n

Foster + Partners and Zaha Hadid Architects both employ more qualified architects than AHMM, but earn significantly less in Britain (\u00a337.9 million<\/a> and \u00a31.8 million<\/a> respectively). Zaha Hadid\u2019s accounts for the year ending March 2024 have not yet been published.<\/p>\n

AHMM\u2019s successes in 2024 include gaining consent on the Ken Dodd Comedy Centre<\/a> in Liverpool, a part-retrofit and rebuild of 1 Victoria Street<\/a> in Westminster, and 50 Baker Street,<\/a> a major mixe-use scheme also in Westminster.<\/p>\n

The practice also established a presence in Sydney, Australia, which its directors said would enable \u2018new business opportunities\u2019.<\/p>\n

The company said its Scope 1,2 and 3 greenhouse gas emissions totalled 1,405.8 tCO2e in 2022. For 2023, the latest year for emissions reporting, the figure was down to around 1,006 tCO2e. AHMM said it had made its biggest reduction in Scope 3 emissions as the result of reducing IT equipment purchasing and events, with Scope 3 emissions going from 1,327 to 859 tCO2e. However, Scope 1 and 2 emissions increased slightly as a result of more staff in the office, the practice said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Allford Hall Monaghan Morris (AHMM) has reported a loss for the second year in a row, despite an increase in income<\/p>\n","protected":false},"author":131789,"featured_media":688367,"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":[5860,3210,2514],"yoast_head":"\nAHMM posts another loss but predicts return to profitability after job cuts<\/title>\n<meta name=\"description\" content=\"Allford Hall Monaghan Morris (AHMM) has reported a loss for the second year in a row, despite an increase in income\" \/>\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\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AHMM posts another loss but predicts return to profitability after job cuts\" \/>\n<meta property=\"og:description\" content=\"Allford Hall Monaghan Morris (AHMM) has reported a loss for the second year in a row, despite an increase in income\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts\" \/>\n<meta property=\"og:site_name\" content=\"The Architects\u2019 Journal\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-03T09:54:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-06T08:46:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.rt.emap.com\/wp-content\/uploads\/sites\/4\/2023\/02\/16142442\/AHMM-Studio-at-White-Collar-Factory_387_Timothy-Soar_ORIGINAL_5-scaled-e1688631389246-1024x689.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"689\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gino Spocchia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gino Spocchia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts\",\"url\":\"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts\",\"name\":\"AHMM posts another loss but predicts return to profitability after job cuts\",\"isPartOf\":{\"@id\":\"https:\/\/www.architectsjournal.co.uk\/#website\"},\"datePublished\":\"2025-01-03T09:54:42+00:00\",\"dateModified\":\"2025-01-06T08:46:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.architectsjournal.co.uk\/#\/schema\/person\/779aa0e54c8c20bf4509b8cce80c65b0\"},\"description\":\"Allford Hall Monaghan Morris (AHMM) has reported a loss for the second year in a row, despite an increase in income\",\"breadcrumb\":{\"@id\":\"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.architectsjournal.co.uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"AHMM posts another loss but predicts return to profitability after job cuts\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.architectsjournal.co.uk\/#website\",\"url\":\"https:\/\/www.architectsjournal.co.uk\/\",\"name\":\"The Architects\u2019 Journal\",\"description\":\"Architecture News & Buildings\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.architectsjournal.co.uk\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.architectsjournal.co.uk\/#\/schema\/person\/779aa0e54c8c20bf4509b8cce80c65b0\",\"name\":\"Gino Spocchia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.architectsjournal.co.uk\/#\/schema\/person\/image\/ff22f86c19263bf2f9ca73b4d596096f\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9ace0cb1667a73da3fb8f9f2e77f8b97?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9ace0cb1667a73da3fb8f9f2e77f8b97?s=96&d=mm&r=g\",\"caption\":\"Gino Spocchia\"},\"url\":\"https:\/\/www.architectsjournal.co.uk\/author\/gino-spocchia\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"AHMM posts another loss but predicts return to profitability after job cuts","description":"Allford Hall Monaghan Morris (AHMM) has reported a loss for the second year in a row, despite an increase in income","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts","og_locale":"en_GB","og_type":"article","og_title":"AHMM posts another loss but predicts return to profitability after job cuts","og_description":"Allford Hall Monaghan Morris (AHMM) has reported a loss for the second year in a row, despite an increase in income","og_url":"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts","og_site_name":"The Architects\u2019 Journal","article_published_time":"2025-01-03T09:54:42+00:00","article_modified_time":"2025-01-06T08:46:45+00:00","og_image":[{"width":1024,"height":689,"url":"https:\/\/cdn.rt.emap.com\/wp-content\/uploads\/sites\/4\/2023\/02\/16142442\/AHMM-Studio-at-White-Collar-Factory_387_Timothy-Soar_ORIGINAL_5-scaled-e1688631389246-1024x689.jpg","type":"image\/jpeg"}],"author":"Gino Spocchia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Gino Spocchia","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts","url":"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts","name":"AHMM posts another loss but predicts return to profitability after job cuts","isPartOf":{"@id":"https:\/\/www.architectsjournal.co.uk\/#website"},"datePublished":"2025-01-03T09:54:42+00:00","dateModified":"2025-01-06T08:46:45+00:00","author":{"@id":"https:\/\/www.architectsjournal.co.uk\/#\/schema\/person\/779aa0e54c8c20bf4509b8cce80c65b0"},"description":"Allford Hall Monaghan Morris (AHMM) has reported a loss for the second year in a row, despite an increase in income","breadcrumb":{"@id":"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.architectsjournal.co.uk\/news\/ahmm-posts-another-loss-but-predicts-return-to-profitability-after-job-cuts#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.architectsjournal.co.uk\/"},{"@type":"ListItem","position":2,"name":"AHMM posts another loss but predicts return to profitability after job cuts"}]},{"@type":"WebSite","@id":"https:\/\/www.architectsjournal.co.uk\/#website","url":"https:\/\/www.architectsjournal.co.uk\/","name":"The Architects\u2019 Journal","description":"Architecture News & Buildings","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.architectsjournal.co.uk\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.architectsjournal.co.uk\/#\/schema\/person\/779aa0e54c8c20bf4509b8cce80c65b0","name":"Gino Spocchia","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.architectsjournal.co.uk\/#\/schema\/person\/image\/ff22f86c19263bf2f9ca73b4d596096f","url":"https:\/\/secure.gravatar.com\/avatar\/9ace0cb1667a73da3fb8f9f2e77f8b97?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9ace0cb1667a73da3fb8f9f2e77f8b97?s=96&d=mm&r=g","caption":"Gino Spocchia"},"url":"https:\/\/www.architectsjournal.co.uk\/author\/gino-spocchia"}]}},"_links":{"self":[{"href":"https:\/\/www.architectsjournal.co.uk\/wp-json\/wp\/v2\/posts\/768941"}],"collection":[{"href":"https:\/\/www.architectsjournal.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.architectsjournal.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.architectsjournal.co.uk\/wp-json\/wp\/v2\/users\/131789"}],"replies":[{"embeddable":true,"href":"https:\/\/www.architectsjournal.co.uk\/wp-json\/wp\/v2\/comments?post=768941"}],"version-history":[{"count":18,"href":"https:\/\/www.architectsjournal.co.uk\/wp-json\/wp\/v2\/posts\/768941\/revisions"}],"predecessor-version":[{"id":769384,"href":"https:\/\/www.architectsjournal.co.uk\/wp-json\/wp\/v2\/posts\/768941\/revisions\/769384"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.architectsjournal.co.uk\/wp-json\/wp\/v2\/media\/688367"}],"wp:attachment":[{"href":"https:\/\/www.architectsjournal.co.uk\/wp-json\/wp\/v2\/media?parent=768941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.architectsjournal.co.uk\/wp-json\/wp\/v2\/categories?post=768941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.architectsjournal.co.uk\/wp-json\/wp\/v2\/tags?post=768941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}