BDO Manchester revenue grows
REVENUES at the Manchester office of accountancy firm BDO Stoy Hayward increased by 2.8% to £18.6m, despite the economic climate, and it remains positive that the region will bounce back from tough times.
The firm said tax and corporate finance were its strongest performers in the North West for the financial year to July 2008, because of a rush before the introduction of new capital gains tax legislation in April this year.
The Manchester office, which employs 215 staff, appointed three new partners in the year, and announced its move to Spinningfields in 2009.
Jeff Jones, lead partner in Manchester, said the tough climate is impacting directly on regional businesses and that the banking crisis will make it hard for many to meet their predicted financials.
But he added that there is an over-riding sense of determination within Manchester’s business community.
“On a daily basis I see examples of how high calibre, talented individuals are being resourceful and innovative to ensure their business remains strong despite current challenges,” he said.
“These challenges will continue as the financial crisis permeates the regional economy further. There will continue to be a squeeze on markets in the New Year, making tough trading conditions for regional businesses.”
Last week, the firm announced an 11% increase in national revenues to £353.1m for the financial year.
