Business and financial adviser Grant Thornton UK has revealed a 10.6 per cent rise in revenue, to £417 million.
The group, which employs hundreds of people at its Colmore Plaza office in Birmingham, said the improvement in the year ended June 30 was a significant milestone towards achieving its 2015 target of £500 million.
The firm said pre-tax profits were up by £1 million despite continued investment including a new office in Birmingham and more than 300 new trainees hired and 20 partners appointed UK-wide.
Reflecting this significant investment, average distributable profit per partner dipped by two per cent to £335,000.
Overall revenues for the advisory practice increased by 22 per cent to £205.2 million, while there are a 28 per cent increase in recovery and reorganisation’s turnover.
Taxation services grew by three per cent to £91.9 million, while assurance revenues remained broadly flat at £120 million.
Chief executive Scott Barnes said: "The partnership has delivered a strong result for the year, which is ahead of expectations and testament to our core strategy and the hard work and vision of the people within the business.
"We are seeing revenue growth benefits from our 2011 investments and work wins and are forecasting continued growth in 2012/13 from the gains we made in 2011/12, most notably our Audit Commission contracts, which confirm our ability to undertake quality audits of large and complex organisations.
"We continue to focus on delivering excellent and value adding services, and leveraging our international network and capabilities for the benefit of the mid-market, the engine room of UK economy.
"This is our third year of very strong results and current trading remains strong. We are very realistic as the market remains tough and we do not expect growth to be driven by any economic upswing. We have invested strongly for sustainability, and shall continue to do so, achieving our growth ambitions through increased market share and investments to deepen and widen our capability."