{"id":172685,"date":"2025-10-01T11:38:09","date_gmt":"2025-10-01T11:38:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/172685\/"},"modified":"2025-10-01T11:38:09","modified_gmt":"2025-10-01T11:38:09","slug":"make-insists-practice-is-back-on-even-keel-despite-posting-another-loss","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/172685\/","title":{"rendered":"Make insists practice is back on \u2018even keel\u2019 despite posting another loss"},"content":{"rendered":"

After posting a pre-tax loss of \u00a31.46 million in 2023<\/a>, the company reported a further deficit of \u00a31.24 milion in its accounts for the year ending 31 December 2024.<\/p>\n

The financial report<\/a> also reveals the practice\u2019s turnover has fallen again, dropping 13 per cent from \u00a318.3 million to \u00a315.8 million last year. In 2022, Make had brought in more than \u00a319 million in fees.<\/p>\n

During the 12 month accounting period the company\u2019s workforce also reduced significantly, with the average number of employees in the Make group down from 165 to 124.<\/p>\n

As reported by the AJ in March 2024<\/a>, Make Architects made around 15 per cent of staff redundant in response to economic turbulence, practice founder Ken Shuttleworth confirmed at the time.<\/p>\n

The latest accounts point to the business risks linked to the \u2018political environment surrounding investment decisions\u2019 and the slowdown in London office projects, a key market for the practice.<\/p>\n

However, the company said that, since the end of 2024, staff numbers had risen and the directors were more hopeful for the coming months. The practice added that it had used its \u2018strong cash buffer\u2019 throughout the accounting period and had cut its \u2018variable and overhead costs\u2019.<\/p>\n

In a statement released to the AJ, a spokesperson said: \u20182024 was a difficult financial year for many architecture practices \u2013 including Make \u2013 with unfavourable global economic conditions, inflationary pressure, and planning delays impacting the delivery of several projects across the UK.<\/p>\n

\u2018Despite the challenges, Make is now on an even keel, having recruited more people in recent months to deliver on key upcoming projects for the practice. We are optimistic for a stable year of growth ahead.\u2019<\/p>\n

In December the practice\u2019s redevelopment proposals for the former ITV Studios on London\u2019s South Bank were given the go-ahead in the High Court, upholding the decision by former communities secretary Michael Gove to allow construction of the 25-storey Thameside scheme. Construction work on the \u00a3800 million building, known as 72 Upper Ground and backed by Japanese developer Mitsubishi Estate, has now\u00a0 begun on site.<\/p>\n

Workloads dropped in every region \u2013 including Asia, Europe, Australia and the UK where fees fell from \u00a313.8 million to \u00a311 million \u2013 except for in the \u2018rest of the world\u2019, where income jumped from \u00a3133,739 to \u00a31.5 million.<\/p>\n

In the company\u2019s strategic report accompanying the accounts, the directors said Make was \u2018actively developing\u2019 artifical intelligence (AI) to \u2018enhance creativity, streamline workers, and improve service delivery\u2019.<\/p>\n

The latest accounts show the highest paid director received \u00a3686,373, marginally down from \u00a3708,762.<\/p>\n","protected":false},"excerpt":{"rendered":"After posting a pre-tax loss of \u00a31.46 million in 2023, the company reported a further deficit of \u00a31.24…\n","protected":false},"author":2,"featured_media":172686,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[6225,6485,6486,1120,96,56,54,55],"class_list":["post-172685","post","type-post","status-publish","format-standard","has-post-thumbnail","category-arts-and-design","tag-arts","tag-arts-and-design","tag-artsanddesign","tag-design","tag-entertainment","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/172685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=172685"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/172685\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/172686"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=172685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=172685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=172685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}