Foster & Partners suffered a £15 million loss last year despite experiencing a record-breaking boost in revenue.

The firm said the loss was a short-term result of interest payments, depreciation, and a goodwill payment to shareholders, following private equity firm 3i’s recent investment.

The practice also saw turnover rise by 60% to £142.4 million in the year to April 2008, while earnings before interest, tax and amortisation leapt 80%, to £49.1 million, on the back of the growing demand for the practice’s services abroad.

Turnover at the practice trebled in the past two years alone — up by 154% on 2006.

Chairman Norman Foster, who stepped down from day-to-day management duties last year, said the company was now active in 31 countries and 72 cities across five continents. 
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