Operating profit down by 90% and turnover 14% in eight months to March last year
Turnover at Squire & Partners dropped by 14% and the firm’s operating profit by 90% in the eight months to March 2024.
The practice’s latest accounts covering the period to 31 March 2024 show global income of £8.47m, compared to £14.8m in the 12 months to 31 July 2023.
Its UK income during the eight month period was £6.77m, less than half of the £13.7m earned in this country in the previous 12-month period. This equates to a 25% drop in revenue in the UK.
Operating profit fell from just over £670,000 in 2023 to just £40,400 in the eight months to March 2024.
The average number of staff at the practice also fell from 87 in the 12 months to 31 July 2023 to 80 last March.
However, the accounts also show the firm was owed £6.4m in deferred income for services which are yet to be represented in the accounts.
Squire & Partners has been contacted for comment.
The firm’s recently completed projects include a refurbishment of the grade II-listed Conran Building in Shad Thames.
The office block was designed by Michael and Patty Hopkins and built in 1991, before being acquired by Terence Conran in 1996.
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