Chipperfield posts loss despite 33% revenue hike

By Jim Dunton2024-01-03T12:34:00

David Chipperfield index mugshot portrait

Source: Ingrid von Kruse

Practice says halting work in Russia following Ukraine invasion cost £1.2m

David Chipperfield Architects has posted a pre-tax loss of £274,334 for 2022 despite increasing turnover by 33% during the year, the practice’s latest accounts reveal.

According to its figures for the year to 31 December 2022, revenue increased from £9.25m to £12.33m during the 12 months. But 2021’s modest pre-tax profit of £179,988 was followed by a plunge into the red.

Chipperfield said its finances took a £1.2m hit as a result of its “immediate withdrawal” from Russia, prompted by the onset of war in Ukraine in February 2022. The practice has stated it will not recommence any work in Russia until all troops are withdrawn from Ukraine.

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