Profit at the practice behind the 8 Bishopsgate tower in the City of London fell for the second year in a row, its latest accounts have revealed.

Wilkinson Eyre said that pre-tax profit in the year to March slipped 40% to £2.9m from £4.8m last time.

The figure means its bottom line has now nearly halved from the £5.3m profit it posted in 2022.

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The 8 Bishopsgate tower (right) was designed by Wilkinson Eyre and built by Lendlease

But revenue at the architect, which also designed the late-finishing 21 Moorfields scheme, the new headquarters of Deutsche Bank, which is now being fitted out by Mace after ISG collapsed in September, was up 5% to £24.5m.

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In a note accompanying the accounts, Wilkinson Eyre said: “Despite ongoing uncertainty in the UK market, the practice had had another good year. Income has remained strong and staff numbers have increased.”

The firm, which became an employee ownership trust, last year said the UK remains its biggest market with income of £15.6m although it carries out work in the Middle East from this arm.

Staff numbers were up 15% to 181 people, with salaries going up from £7.9m to £10.5m.