Mazars posts double-digit rise in profits and turnover

City
By Isabelle Bell, CA Today

10 February 2016

Mazars has announced a 14% growth in turnover and a 10% growth in profits across its UK operations for the year ended 31 August 2015.

The firm, which operates in 93 countries, saw its overall fee income increase from £130.9m to £149.7m, while its profits rose from £26.2m to £28.8m.

Internationally, the firm’s earnings rose 15.9% to €1.252bn. Mazars said that it has created “major strategic mergers” in China and Germany and expanded its presence in Australia, Italy, Mozambique, Cyprus, and the Philippines.

Mazars said that organic growth constituted the largest proportion of its rise in revenue, while the firm also recently acquired CompetitionRX – a provider or monitoring trustee services and compliance advice in merger control proceedings.

Audit and actuarial services are Mazars main generators of fee income, with turnover increasing to £59.6m. The firm’s advisory services saw an increase of 25% to £42.9m, thanks to strong performance in financial services consulting and project finance.

Phil Verity, Mazars UK Senior Partner, said that the firm continues to “make excellent headway” and he was “very encouraged by our progress”.

He said: “The firm has experienced over 45% growth since 2010, one of the fastest growth rates among the top ten UK firms. This is thanks to our strategy of achieving long-term sustainable growth by responding to clients’ needs, developing our international capabilities, investing in the markets where we shine and pursuing the right opportunities as they arise.”

Source: Mazars

Topics

  • Business
  • Accountancy

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