However, the results posted at Companies House, which show the company's pre-tax profits plunge to 4.7 million in the year ending 31 March 2024 (from 17.7 million in 2023), had been predicted by the practice.Last year, Thomas Heatherwicks practice said its 2023 boom when turnover reached a record 49.6 million had been caused by a resurgence of major jobs that been on hold during the Covid pandemic. It anticipated a return to a more normalised set of figures this year. In 2022 the company's pre-tax profits were 3.2 million.Despite the drops in the headline figures, Heatherwicks staff numbers actually rose from an average of 218 in 2023 to an all-time high of 234 in the latest accounts. The practice said this reflected an uptick in new projects in particular in Thailand, where the practice said it had opened a new associated company, and South Korea.AdvertisementThis is the largest workforce ever employed by the company and marks a doubling of employees since 2014 when it had 116 people on its books.Heatherwicks total fee income in Asia swelled from 16.1 million to 19.6 million over the trading period. In August the company won a competition to overhaul Hanwha Galleria, a department store in the south-east of Seoul. Source:DevisualHeatherwick Studio's proposals for Hanwha Galleria, SeoulIts workload continues to grow in the Middle East too. The practice reported a 16.5 million in turnover in the region, up from 13 million in 2023.Meanwhile, income in the USA, where its controversial Vessel installation in New York reopened late last year, tanked from 14.4 million to just 1.9 million.Commenting on the figures, practice partner and group leader Stuart Wood said: The studios portfolio continues to grow both in terms of geography and the amazing range and scale of our projects.AdvertisementTurnover is now on a level with previous yearsWe are also bigger than ever as a team. Following a strong year after the pandemic, turnover is now on a level with previous years, as anticipated, and we expect it to continue on a gradual upward trend.The studio is preparing for an exciting year ahead. We have two major projects completing soon in our home city of London: the legendary cultural venue at Olympia and the Google building in Kings Cross, and a host of projects across East Asia, including our very first biennale in Seoul.All of this is grounded in our core mission to help make the world more joyful, engaging and human.