Grant Thornton in Yorkshire supports firm’s strong national results
Leading business and financial adviser Grant Thornton UK LLP’s revenues increased 10.6% to £417m for the financial year ended 30 June 2012, a significant milestone towards achieving its 2015 target of £500m.
Jonathan Riley, senior partner for Grant Thornton in Yorkshire, confirms that performance in the firm’s offices in Leeds and Sheffield was in line with national performance. “Overall, we have seen another strong year of growth in the region with our bid for the outsourcing of public sector audit resulting in increased revenues for the firm of £40m. Corporate Finance remained a mixed picture reflecting current market uncertainty, but Transaction Advisory Services outperformed the market underlining our investment in relationships with corporates.
“Over the last year, we have continued to invest in training and developing our team in both Leeds and Sheffield to provide the breadth and depth of expertise to support dynamic, growing businesses throughout the region.
"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.”
Grant Thornton's brand promise of 'unlocking the potential for growth for dynamic organisations' was launched globally and the firm continued to expand, hiring over 300 new trainees and appointing 20 partners across the UK.
Reflecting this significant investment, average distributable profit per partner dipped slightly, 2% lower at £335,000.
Overall revenues for the Advisory practice increased by £37.5m (22%) to £205.2m, reflecting a 6% growth in turnover from the Corporate Finance division and an 28% increase in Recovery & Reorganisation's turnover. The Government Infrastructure Advisory team also enjoyed a strong year of growth driven largely by the Manufacturing Advisory Services and GrowthAccelerator contract wins in the public sector.
Taxation services grew by 3% to £91.9m, while Assurance revenues remained broadly flat at £120m.
Mr Riley concludes: "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."
Photo shows: Jonathan Riley, senior partner for Grant Thornton in Yorkshire
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