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24 Nov 2008
BDO Stoy Hayward has posted 11% growth throughout the UK, to £353.1m - 9% growth in Birmingham and 25% growth in Scotland, despite challenging market conditions.
After posting profits of £65m Simon Michaels, BDO's managing partner said, 'Following an extended period of progress in benign market conditions, we have achieved another year of strong growth in a more difficult trading environment via consolidation and investment.
We have continued to invest in infrastructure and talent so as to deliver services to help clients meet the challenges and opportunities during tougher times.'
The results were boosted by 29% growth in tax division revenues.
Among the high profile corporate finance deals completed by the BDO team over the last 12 months were advising Isison the MBO of Playforce; Busy Bee’s £31m acquisition of Leapfrog Day Nurseries and Leapfrog Childcare Vouchers; and the £11m AIM floatation of the Rethink Group.
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