Accountancy business PKF Cooper Parry has enjoyed further growth in turnover and profits.
The results for the financial year show a 7% growth in turnover and 5% growth in profits available to its members. This growth is organic, driven predominantly by success within its core market – accountancy and tax services to privately owned clients in the Midlands.
Over the year, PKF Cooper Parry consolidated its offering to focus on being number one in its chosen markets. Whilst its IT, Wealth and Corporate Finance businesses remain very successful and award-winning constituent parts of the wider business, this year it took the decision to exit from its restructuring and payroll activity. Adjusting for the impact of these changes, the underlying income growth coming from the continuing businesses was 9%. The underlying profit growth was 10%.
The business continued to pick up some of the most prestigious and highly coveted awards. PKF Cooper Parry was recently named by the Employee Engagement Alliance as the best place to work in Europe. It came 12th in The Sunday Times Best Companies to Work For list. On top of this, its audit team picked up Audit Team of the Year at the British Accountancy Awards and its tax team won Best Regional Tax Practice at Tolley’s Tax Awards.
This year the business also held another successful Community Week, volunteering over 2,000 hours to local communities and 18 charities across the Midlands. It started a new charity partnership with Heart Link, a support group based in Glenfield Hospital, Leicester for parents and families who have a child suffering from a heart defect.
CEO, Ade Cheatham, said: “It’s been a really great year for us. We’ve made some big, tough decisions this year. Some of which have impacted on our short-term growth, having doubled in size in the previous three years. But we’re creating something very special and becoming famous for our culture and innovation. We’re set up brilliantly now to scale quickly. We’ll continue to invest in technology, challenge our business models and find better and better ways to deliver a remarkable client experience. 2019 is going to be a very big year for us.”