One Hyde Park interior designer Candy & Candy falls into the red

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Property tycoon Nick Candy’s luxury interior design business has dropped into the red, new accounts have revealed.

Candy & Candy Holdings is behind projects such as the high-end interiors at super-prime London residential development One Hyde Park where a flat was being marketed last year at £75 million.

Founded by Nick and his brother Christian in 1999, the company made a loss of £455,244 in the year to June 30, down from a profit of £416,254 the prior year.

The firm’s strategic report blamed the fall largely on an increase in staff costs, including professional fees on the “pursuit of potential commercial office developments that were not concluded”.

It also noted further competition entering the luxury interior design market, with competitors attracted to the lucrative London property market.

However turnover rose to £6.6 million from £6 million for Candy & Candy, which also delivers designs for yachts.

The highest paid director earned £588,147 in the year.

Source Article from http://www.standard.co.uk/business/one-hyde-park-interior-designer-candy-candy-falls-into-the-red-a3221211.html

April 9, 2016 |
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