Accountancy giant Grant Thornton reports £521m UK fee income
- 23rd October 2015
- Accountancy & Finance
The financial year ending 30 June 2015 saw UK accountancy firm Grant Thornton report a 1.6% year-on-year increase, achieving a £521m total.
This means profit before tax for the company hit £82m, with a figure of £398,000 distributable profit per partner - a rise of 3.4%.
The audit and tax service lines rose by 5% and 5.5% to £142m and £96.3m respectively, and corporate finance gave a 40% boost to the firm's advisory business arm.
However, the overall strengthening of the UK economy led to a fall in revenue for the recovery and reorganisation side of the business. Excluding this aspect, the overall advisory business saw a gain of 13%.
The company have attributed some of their success to sticking to a firm plan, which included an emphasis on recruitment practises.
CEO of Grant Thornton, Sacha Romanovitch, commented: "In 2012 we set out bold goals for our Ambition 2015 and I'm delighted that we have been able to deliver over and above on these."
"We've also remained committed to the industry wide social mobility initiative Access Accountancy and already provided high quality tangible work experience to 20 young people from disadvantaged backgrounds in Manchester, with plans in place to rapidly increase this," she added.
Looking ahead, the firm has identified other areas of "growth and opportunity" as the public sector as well as the complex insolvency, international investigations, and business risk services divisions, all of which did well over the past 12 months.
According to a recent article by The Guardian earlier this month, the Association of Chartered Certified Accountants (ACCA) and the…