Zaha Hadid profit plummets despite increased turnover

By Jim Dunton2023-02-08T07:00:00

ZHA_Hangzhou-International-Sports-Centre_Render-by-Proloog

Source: ZHA/Proloog

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Zaha Hadid Architects has posted a tenfold drop in pre-tax profit despite a 7.2% increase in revenue, its latest annual accounts reveal.

The practice said pre-tax profit in the year to 30 April 2022 was £917,947, down from £9.5m the previous year. Revenue increased from £63.5m to £68.1m over the same period, however.

Average headcount at the practice was 520 during the year, up from 440 in 2021. ZHA said an increase in the number of production staff was responsible for the growth. Its accounts said the cost of salaries increased from £27.5m in 2021 to £38.6m last year, exclusive of social-security payments and pensions.

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