Partner profits rise 15% at Grant Thornton

ACCOUNTANCY group Grant Thornton has enjoyed a strong year with revenues rising by 9% to £512m.

The national firm, which has 400 staff in Manchester and Liverpool, said it had already hit its 2015 turnover target in the year to June.

The growth was fuelled by a 15% increase in the advisory department – which covers restructuring, corporate finance, and other areas – and a 4% hike in audit. Tax was broadly flat.

Profits were up 7.7% but the figures was not disclosed, and on average pre-tax profit per partner was up by 15% to £402,000.

During the year the firm advised on: the £50m sale of part of Lancashire-based Andrew Industries to US-listed Lydall; Liverpool-headquartered Edward Billington and Son’s acquisition of TSC Foods; and the flotation of B&M Retail.

North West managing partner Carl Williams said: “We’re delighted to have made a significant contribution to what are a great set of figures, reflecting the tremendous performance of the team in providing insight and value to our clients.

“The North West is home to some of the most dynamic businesses within UK Plc – and we have the pleasure of helping them innovate, move forward and break into new markets. Our public sector audit team, meanwhile, is the market leader. As a firm we continue to advise more local authorities and NHS bodies than anyone else.”

Grant Thornton is the biggest firm outside the Big Four of EY, KPMG, PwC and Deloitte.