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.
Pre-tax profits were up by £1m even after the continued investment in people, brand and infrastructure. In the last year the firm has invested in new offices in Cambridge, Reading, Belfast and Birmingham.
Grant Thornton’s brand promise ‘unlocking the potential for growth for dynamic organisations’ has been launched globally. They have hired over 300 new trainees and appointed 20 partners.
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 Growth Accelerator contract wins in the public sector.
Taxation services grew by 3% to £91.9m, while Assurance revenues remained broadly flat at £120m.