BDO revenues hold steady
THE MANCHESTER office of accountancy firm BDO has revealed that revenues remained steady over the year, at £18.6m.
The firm said the figures for the year ended 3 July 2009, showed resilience and forward thinking in a tough market. Nationally, the firm reported a 5% fall in turnover to £335.1m.
BDO, which in June moved to new offices in Spinningfields, said business restructuring was its best performing division, exceeding targets to achieve record growth.
Key deals included the management buyout of Manchester-based Air Energi and administration work with Motorworld and Allied Carpets.
Jeff Jones, managing partner for BDO in Manchester, said: “The profession has seen a slower year than previously enjoyed, and like many other firms we have not been immune – being open and honest about our decisions – having taken action to reshape our business focussing on the future and our competitiveness.”
He added: “Our performance indicates a strong sense of confidence and expectation for the year ahead. In the midst of deep recession, the firm and our clients have faced extraordinary challenges. Evolving and reshaping BDO to put clients first in everything we do has played a large part in our strategy over the past 12 months.”
The firm made two partner appointments over the year: Patrick Lannagan to the business restructuring team, who joined following a nine-year stint at Deloitte in Scotland; and Craig Wright to the audit team as risk and advisory service partner, having previously spent eight years at Grant Thornton.
Since Mr Wright’s arrival in May, he has secured several high-profile business wins in both the public and private sectors including Partnership for Schools, Pace Telecom and Arena Housing Association.
The firm also promoted Tracey Pye, who has particular expertise in the retail and automotive sectors, to partner in the business restructuring team.
Mr Jones added: “Our success and stability this year is a direct result of the outstanding performances of a multi- disciplinary partner led approach. It is important over the year ahead that BDO continues to attract talented individuals who can maintain this level of service to clients.”
