Business and financial adviser Grant Thornton UK has celebrated its fifth successive year of strong results.
Revenue was up by nine per cent to £512 million for the year to the end of June 2014, coming on the back of double digit growth in the previous two years.
Growth in the UK firm was driven in large part by continued strengthening of the advisory practice, which grew by 15 per cent. Meanwhile the firm also saw its audit practice improve by four per cent, whilst turnover from its tax offering remained broadly flat.
Profits were up 7.7 per cent in absolute terms and on a “like for like” basis average pre-tax profit per partner was up by 15 per cent to £402,000.
The firm’s total contribution to the Exchequer was £169.4 million, with an average rate of tax paid per partner estimated at 42.5 per cent.
During the year Grant Thornton appointed 42 new partners and directors, 276 new trainees (both graduates and school leavers) and 116 paid interns joined the firm.
Birmingham-based Dave Munton, regional managing partner, said: “These are yet another very strong set of results for the firm and reflect our clear strategy to be the leading advisor in the markets within which we operate.
“Locally, our results broadly mirror those of the wider firm, with turnover increasing by 14 per cent year on year and growth across all of our audit, tax and advisory streams.
“Our performance is a further reflection of the fantastic people and the dynamic, entrepreneurial clients we work with, whose relationships we value strongly.
“We now enter our new financial year with a great platform from which to grow further, investing in new talent and working with all our clients to help them realise their strategic objectives and unlock their potential for growth.”