According to its latest accounts for the year ending 31 July 2025, the AJ100 practice reported that its profit before taxation had dropped from £1.4 million in 2024 to £460,000. This marks a near £2 million fall in profits from the £2.5 million posted in 2023.
Meanwhile, turnover has fallen to £12.7 million from the company’s record £14.7 million fee income reported in the 2024 accounts – a peak the practice said had followed a period of ‘sustainable, measured and realistic growth’.
The 2025 figures also show a reduction in fees per architect from last year, decreasing from £173,479 to £144,078.
A statement accompanying the accounts explained that during the financial year, design work on one major unnamed project ended and the practice’s role ‘was reduced to monitoring’, and also a ‘significant residential scheme was paused during its planning stage due to outstanding matters with the freeholder’.
The document added: ‘Inflation has affected most construction projects, including one put on hold to allow the project viability to be reassessed.’
Despite these issues, Eric Parry’s headcount edged up. The average monthly number of employees rose from 109 in 2024 to 116 in 2025.
Geographically, although income from projects in the UK fell by more than £2 million to £11.6 million, the practice’s workload in Asia increased by 45 per cent to £1.1 million.
Last week, the practice won approval for its major new £750 million mental health and medical research campus at Warneford Park in Oxford.
And construction work is continuing on its new justice quarter at Salisbury Square in London’s Fleet Street, which is due to complete next spring, and its 50 Fenchurch Street scheme, which includes retaining the All Hallows Staining church tower within it.
Practice founder and principal Eric Parry told the AJ: ‘The directors and I feel reassured that the practice continues to operate on a stable financial footing following a period of significant and strong growth in revenues. Over the past reporting period, we have taken steps to consolidate our position, maintaining and upskilling our staff, investing in securing high-quality work overseas, and expanding and upgrading our studio and equipment.’
He added: ‘The practice has a steady pipeline of ongoing work across a broad variety of scales and business sectors. Our practice has been driven by significant, robust projects that include One Undershaft, the tallest building in the City of London cluster, the Salisbury Square Development and the successful planning application for the renewal and expansion of the Warneford Park mental health campus in Oxford.
‘We have a great team, with the skills and facilities they need to deliver on what we view as some of the best work the practice has ever produced.’
Eric Parry Architects’ 50 Fenchurch Street scheme has cleverly retained the medieval Tower of All Hallows Staining Church