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02 Feb 2010
Accountancy firms have paid the price for nursing businesses through the crisis, according to an accounting firm which said it had to write off thousands of chargable hours.
French Duncan said its profitability has been hit due to time spent holding businesses' hands during the down turn.
“We have to acknowledge that our ongoing commitment to clients has had an impact on our profit growth,” said Robert Kerr, managing partner with French Duncan.
Kerr said while turnover grew by £2million to £8.5 million pre-tax profits held remained at an even £2.5 million.
Kerr said he had to meet “huge demand” to advise and shepherd clients through the recession.
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Briefings
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