Leading audit, tax and consulting firm RSM today announced a 9 per cent increase in UK annual revenues to £319m for its financial year ending 31 March 2017.
While Consulting, Human Resource and Legal Services revenues grew by 46.6 per cent to almost £16m for the year, all other core service lines contributed to the growth in revenues.
- Tax and advisory grew by 8.6 per cent to £138m
- Audit and assurance grew by 4.8 per cent to £77m
- Restructuring advisory grew by 9.6 per cent to £39m
- Risk assurance grew by 14.6 per cent to £25m
- Corporate finance grew by 1 per cent to £24m
Partner and staff numbers rose by 4 per cent to almost 3,500 while total partner and staff remuneration increased by 11 per cent to £202m.
Consolidated UK company profits grew by 16 per cent to £5m, while profits of RSM UK Group LLP rose by 15 per cent to £49m.
Meanwhile dividends paid to staff, partners, and retired staff and partners rose by over 4 per cent to £3m.
Laurence Longe, RSM’s Chief Executive Officer said
‘This year’s excellent financial results very clearly show the commercial benefit of the major investment that has been made in first reshaping and then rebranding the firm following the absorption of the former Tenon business in 2013. Significant underlying organic growth in multiple revenue streams in 2017 is now making its contribution to RSM achieving its long term strategic objective of becoming the first-choice adviser to middle market leaders, globally.’