Dains hints at further acquisitions after 24% leap in turnover

REGIONAL accountancy and advisory firm Dains has reported an increase of turnover of 24% to £8.4m for the year ending March 31.

The growth was bolstered by the firm’s acquisition mid-way during the year of the Stoke-on-Trent accountancy business of RSM Tenon Group, which accounted for approximately half of the increase.

Operating profit for the same period also increased by 33% to £2.75m with positive input from all five core service lines – accountancy and business services, audit, business recovery and insolvency, corporate finance and tax.

The firm reported double digit growth in audit for the seventh year running, strong growth in taxation services and remains upbeat about the strength of the corporate finance market having completed a number of high profile local transactions.

Chief executive Spencer Wright said: “It’s been a strong year as we continue to deliver responsible, profitable growth in challenging market conditions. Against that backdrop, the results demonstrate that our clients, new and old, value both the services we provide and our commitment to helping them to find ways to move their businesses forward.”

Hinting at further acquisitions, Wright said:  “As an entrepreneurial and forward looking business we are continually looking to grow organically and take advantage of other strategic opportunities as they arise.”

The firm currently employs around 145 staff from its primary offices in Birmingham, Burton on Trent, Derby, Lichfield, Rugeley and Stoke-on-Trent.