Turnover up 18% but architect's operating loss deepens on back of rising staff costs
Building Design Partnership, the UK's largest architect, has seen its turnover rise 18% - but its accounts reveal that the practice continues to operate at a loss.
Accounts filed at Companies House show that the architect recorded a turnover of £99.5m in the year to 30 June 2008, up from £84.2m last year.
When interest-related payments are taken into account, the practice made a profit of £1.13m, exactly the same figure as last year. But the practice continues to operate at a loss - which has increased from £20,884 last year to £49,751 in 2008.
BDP has instead pumped its revenue increases back into its people - costs for the practice's 1,134 staff rose by almost £10m this year, up from £41.6m last year to £51.5m in 2008.
The accounts also show that BDP has broadened its international revenue. Turnover in markets outside Europe leapt 917%, from £621,000 last year to £5.7m in 2008.