Accountancy firm hails ‘strong year’
INTERNATIONAL accountancy firm Mazars has reported strong financial results for its UK practice, with fee income up 14% and profits rising 10%.
Driven by strong organic growth the firm – which employs 71 people at its Manchester office and 41 in Liverpool – said revenues in the year to August 31 rose £130.9m to £149.7m.
In the same period, the firm’s profit rose by 10% from £26.2m to £28.8m.
Audit and actuarial services are Mazars’ principal generators of fee income with a turnover of £59.6m, an increase of 14% on the previous year. Advisory services experienced an increase of 25% from £34.4m to £42.9m, thanks in particular to strong performance in a number of specialist areas including financial services consulting and project finance. Income from the tax practice rose 16% from £24.3m to £28.1m.
Ian Wrightson, northern region managing partner haield a “very strong set of results”, adding: “The firm has experienced over 45% growth since 2010, one of the fastest growth rates among the top ten UK firms. This is thanks to our strategy of achieving long-term sustainable growth by responding to clients needs, developing our international capabilities, investing in the markets where we shine and pursuing the right opportunities as they arise. We are very encouraged by our progress.
“Delivering outstanding quality to our clients will always be our foremost goal; we know that goes hand in hand with seeking out, nurturing and channelling a diverse range of top class talent. Investing in broadening the range and depth of skills within our teams remains a priority.”
Internationally, Mazars also reported double-digit growth with income rising 15.9% to €1.252bn. It also further extended its geographic footprint, in particular through major strategic mergers in China and Germany, plus an expanded presence in Australia, Italy, Mozambique, Cyprus, and the Philippines. Mazars operates 77 countries.
