Accountancy firm Deloitte has warned of tougher times as it announced revenues up 15 per cent to £1.559 billion.
The company also said average profit per partner rose, in the year ending May 31, to £765,000 from £711,000 in the previous period.
John Connolly, senior partner and chief executive, said that Deloitte had performed well across its divisions in an environment which at the moment "remained reasonably buoyant".
He said the decision to continue investing in increased professional headcount and the emphasis on quality was rewarded.
However Mr Connolly predicted more difficult markets in years ahead, highlighting conflict in the Middle East, oil prices and inflation fears among a range of factors hitting corporate confidence.
The company said its Midlands operation - which has a major presence in Birmingham and offices across the region - was going from from strength-to-strength with core service lines performing well.
The national picture saw revenue grow most strongly in consulting, up 22 per cent to £381 million and audit, up 17.2 per cent to £487 million. Corporate finance grew 10.2 per cent to £265 million and tax was up 10.1 per cent to £426 million.
Mr Connolly said the audit arm's market share in the FTSE100 and FTSE250 continued to grow, and at 23 per cent was now reckoned the second largest in the UK.
The tax division grew more strongly "in what is still a very challenging environment" and Mr Connolly said Deloitte was "now univeresally recognised as the market's leading business consultancy".
The overall growth rate in corporate finance reflected a particularly high growth in mergers and acquisitions advice and transaction support, he said.
The company experienced low growth in reorganisation services and insolvency related work "impacted by what was a robust economic environment".
Each division delivered "very satisfactory profitability" producing profit before tax of £460.9 million - growth of 9.1 per cent and a total profit for allocation to partners and for annuities to retired partners of £489.2 million (growth of 8.7 per cent).
The business on May 31 had 8,812 fee earning professional staff and partners, an increase of 12.8 per cent over the year before.
But Mr Connolly warned that "the markets will be tougher in the year ahead".