Moore Stephens has reported revenue of £121.4m in 2017, up 15% from £105.5m in 2016.
Despite significant investments across the firm, Moore Stephens reported an increase of profits (before tax and remuneration) by 10% to £24.1m.
Revenue growth has been achieved across all core service lines in the past year – including outsourcing services (45% growth to £11.7m), management consultancy (29% growth to £10.9m), tax advisory work (12% growth to £22.9m), restructuring and insolvency (12% growth to £5.5m) and audit and assurance (11% growth to £63.2m).
The top 10 firm attributes these increases to its organic growth strategy, which it launched two years ago, as well as the after-effects of the successful merger with Chantrey Vellacot in 2015. As a result, the firm has grown by a quarter in two years and has exceeded financial targets. It also grew its talent pool with 100 new hires in the past year.
Moore Stephens’ recent merger with James, Brennan & Associates, an actuarial consultancy firm, will continue to support its growth strategy. The firm is also focussed on investing in innovative programmes, such as ‘Hatched’ which supports fast-growth tech start-ups.
Simon Gallagher, managing partner at Moore Stephens commented: “Over the last few years we have embarked on a significant change programme, including a fresh strategy and outlook, a new management, governance and operating structure and a major merger, which we have successfully embedded to drive value.”
“Our approach has enabled us to build on and develop our client relationships, continue to attract top flight talent to enhance our capabilities and improve our performance, as well as winning us numerous awards. We look forward to building on this in the years ahead.”
Last year, Moore Stephens reported growth of 14%.
Moore Stephens International recently announced the appointment of Anton Colella as global CEO.