Grant Thornton UK has reported revenues of £520.6m ($801.3m) in the year to 30 June 2015, up 1.7% in comparison to FY14.
Contrary to the global trend, Grant Thornton UK’s 2015 growth was driven by tax and Audit while its advisory service line recorded a slight dip in revenue.
Grant Thornton UK reported £282.3m in revenue in its advisory service line, down 1.3% from the previous year. While corporate finance, forensic services and other advisory services recorded a strong growth, Grant Thornton UK’s dip in advisory comes from the recovery and reorganisation business which had a slight slowdown this year.
The firm attributed the recovery slowdown to the strengthening of the economy and the decline in the number of corporate failures as a result.
Taxation was the fastest growing service line for Grant Thornton in FY15, up by 5.6% with reported revenues of £96.4m. While audit services have grown by 5%, with revenues of £142m.
Elsewhere Grant Thornton UK’s total staff levels grew by 5.3%, with 4,461 recorded employees in FY15 compared to a year earlier when the Network’s UK headcount totalled 4,238.
Sacha Romanovitch who became CEO of Grant Thornton UK on 1 July 2015 said: "In 2012 we set out bold goals for our Ambition 2015 and I’m delighted that we have been able to deliver over and above on these. This has been a year of focus, investment, and also transition, as while officially taking up the role of CEO 1 July, I’ve been working closely with Scott Barnes and my strategic leadership team to ensure we capitalise on the significant opportunity for the firm."
The outlook for the UK overall remains positive, she continued. "And while this is increasingly dependent on volatile global economic forces, we are positive that the services sector will remain a key driver of growth in the global economy and we seek to continue to play our part."
