Thomas Heatherwick greater his annual dividend closing 12 months in spite of income at his follow Heatherwick Studio crashing by means of 73% following a cave in in income from the USA.
The company reported pre-tax benefit of £4.7m for the 12 months to 31 March 2024, down from the £17.6m earned within the earlier 12 months, with turnover all over the duration falling from £49.6m to £42.3m.
Heatherwick’s £1.4m dividend used to be over £300,000 greater than the £1.1m he won in 2023.
The majority of the 12 months’s fall in income got here from a lull within the company’s paintings in the USA, the place source of revenue fell by means of 87% from £14.4m in 2023 to £1.85m the next 12 months.
All different key areas noticed stepped forward numbers, with source of revenue from Asia, the company’s maximum profitable marketplace, expanding from £16.1m to £19.2m, and the Center East emerging to £16.5m from the £13.1m earned within the earlier 12 months.
Turnover additionally greater in the United Kingdom from £1.8m to £2m and in the remainder of Europe from £1.1m to £1.6m, even though it fell throughout the remainder of the arena, out of doors of the company’s 5 key areas, from £3m to £1.1m.
The follow mentioned the autumn in turnover and benefit used to be “totally anticipated following a phenomenal 12 months” in 2022 and 2023 when the studio received paintings on a string of huge initiatives and a number of other others that had stalled all over the pandemic restarted.
Team workforce numbers all over the duration edged as much as a complete of 234, from 225 the former 12 months, with the company’s salary invoice expanding from £18.9m to £20m.
Heatherwick Studio spouse and workforce chief Stuart Wooden mentioned: “The studio’s portfolio continues to develop each on the subject of geography and the fantastic vary and scale of our initiatives.
“We also are larger than ever as a staff. Following a robust 12 months after the pandemic, turnover is now on a degree with earlier years, as expected, and we think it to proceed on a gentle upward development.”
Primary jobs which the company picked up closing 12 months incorporated a change of London’s BT Tower right into a lodge for US lodge chain MCR Resorts and a luxurious buying groceries centre in Seoul, South Korea.
The company additionally received its first activity in South The us, a seven-storey college construction in Bogota, the capital of Colombia.
