International accountancy and advisory firm Mazars has reported an overall fee income increase of 7% in its UK consolidated financial statements for the year ended 31st August 2016. The firm’s fee income rose from £149 million to £160 million during the year.
This marks the fifth successive year of growth for the company, and an increase in income of nearly 40% since 2012.
Growth in all the firm’s service lines was strong, particularly in tax and financial planning (+11.3 %) and financial advisory, accounting and outsourcing (+ 6.6 %). Assurance and internal audit saw growth of 5.3 % with consulting and actuarial yielding 5.2 % growth.
Phil Verity, UK senior partner, said: “I am proud that we have achieved such consistent growth in our business with increases in turnover and profit. Our growth has been sustainable and provides an excellent foundation for the next four years”.
He added: “Looking ahead we will continue to invest in our business to achieve further long-term sustainable growth. Our people are critical to this and we remain committed to nurturing and developing talent to deliver trust, create value and offer exceptional service to our clients”.
The Mazars Group’s revenue grew by more than 10% year on year, to €1.36 bn (as at 31st August 2016).
Alistair Wesson, East Midlands managing partner, said: “These results show another strong year for Mazars, a trend which has been mirrored here at our East Midlands offices. By responding to our clients’ needs and growing our teams that support them, we have experienced our fifth year of successive growth and I am exceptionally proud of the hard work of each member of the team here in the East Midlands and nationwide”.
There are currently approximately 120 partners and staff at Mazars’ East Midlands offices.