Broadway Malyan has tripled turnover in the past six years from £6.9m to £21.5m.
The London-based architect has enjoyed strong growth since 1996, but Peter Crossley, its managing director, said no new staff were being taken on because the market has begun to slow and clients have put projects on hold. The firm employs 450.

Crossley added that turnover for the year to next March was expected to be about the same as this year.

He said: "It is steady now; up until August it was growing. We've started to adjust down to acknowledge the economic situation."

He said the sectors hardest hit were IT and commercial property. "The developers and investors have in some cases put them on hold. It is not disastrous but it is noticeable."

Crossley added that Broadway Malyan was still busy in other sectors and had been bolstered by its growing PFI involvement and its work with blue-chip clients such as BP.