Pre-tax profit at Grimshaw Architects plunged by almost half in the year to 30 April 2009, the practice reported this week
In its full-year results, the Eden Project designer posted profit before tax of £1.7m, down 46% from £3.1m in 2008. Turnover fell 14.4% to £11.3m, down from £13.2m the previous year, and net funds fell 53% to £1.1m, down from £2.4m.
UK revenue slumped 19.4% to £9.1m, down from £11.2m last year, and turnover in regions outside Europe fell 21.6% to £1.3m from £1.7m in 2008. Mainland Europe performed better, with revenue more than trebling to £915,032.
The practice’s employees took home an average of £29,531 in wages and benefits, down from £33,295 in 2008.