AHMM returns to profit following restructure

AHMM returned to the black this year with a profit of £556,000 following a £1.7m loss in 2024.

The practice said the 12 months to 31 March 2025 had been a “year of recovery” for the business following a “significant restructuring” in 2024 which saw it shed 23% of its staff.

The firm behind a revamp of the IBM building on London’s South Bank cut a total of 129 jobs last year to leave it with 422 staff and a £1.1m bill for redundancy payments.

Its average number of employees during the 12 months to March this year fell further to 407, according to the latest accounts, while its average employee headcount on a full time equivalent (FTE) basis dropped by 54 to 381.

The firm’s improved numbers were helped by a drop in staff costs from £31.6m in 2024 to £27.6m in 2025.

Turnover slid slightly from £47.4m to £45.8m, although the firm said its underlying billings for architectural services increased by £700,000 to £44m, while a 9.4% saving in admin costs helped the business record an operating profit of £1.4m for the first time since 2020.

Turnover in the UK, by far the firm’s largest market, dipped from £41.1m to £38.8m and fell from £1.2m to £783,000 in Europe, but rose from £5m to £6.2m across the rest of the world.

New work won during the year included an office campus on the south coast of England and the redevelopment of a brutalist building in Edinburgh, along with an appointment on the masterplanning team for the University of Leeds campus.

Projects granted planning approval included the redevelopment of The Galleries in the centre of Bristol and the decarbonisation of the Denys Lasdun-designed, grade II* listed University of London Institute for Education building.