Profits treble at Zaha Hadid Architects
As many major practices are losing out on projects and cutting back on staff and spending in the face of the global economic crisis, Zaha Hadid Architects has filed accounts showing pre-tax profits soaring to £4.1m in the year to April 2010 – almost trebling from the £1.6m recorded the previous year.
2010 was a highly successful year for Hadid, who picked up the RIBA Stirling Prize in October for MAXXI, the National Museum of XXI Century Arts in Rome, and watched the Broad Museum in Michigan and Library & Learning Centre at the University of Economics and Business Vienna begin to take shape. The Evelyn Grace Academy in London was completed to great critical acclaim.
Currently under construction, Hadid’s highly debated design for the Aquatics Centre at the Olympic Park in London is progressing well, with champion swimmer Ian Thorpe convinced to return to the Olympics after five years in retirement after visiting the construction site.
This widespread progression has clearly had a positive effect on the finances of Zaha Hadid Architects, whose turnover grew by more than 50% last year, from £29m to £45m. Accounts filed by the company state: “Recently completed projects demonstrate [our] commitment to the highest standards of design and innovation in architecture.” Hadid took a personal dividend of £1.5m in the last financial year and the highest paid of the three company directors at Zaha Hadid Architects is said to have taken a salary of £267,000.