OUT OF THE ASHES of PKF’s UK arm being sold to BDO, its new member firms have presented their income as one for the first time – and pledged to hit £100m in fees next year.
The six member firms, PKF Littlejohn, PKF Cooper Parry, KLSA, Johnston Carmichael and PKF-FPM and PKF O’Connor, Leddy & Holmes in Ireland, have posted £78m in fees for the year ending 31 May 2014. The UK firms contributed £76m to that figure.
Jeremy Bowler (pictured), chairman for UK & Ireland (PKF UKI) said that more firms are lined up to join PKF in the UK in the next year, with £100m in fee income targeted during that period. A substantial proportion of that grwoth will come from new member firms.
“With over 1,000 partners and staff working in 20 offices, and having already reached 12th place in our first full year, we are now very much on track to quickly become one of the country’s major accountancy networks, and are anticipating reaching £100m in fee income during the next 12 months.
“Our short term aim is to ensure that the PKF brand remains firmly re-established in the UK and maintains its association with quality. Our bigger aim is to make it even stronger through our strategy of maintaining high standards and admitting carefully selected firms with leading positions in their local markets or industry sectors.”
The last figures filed by PKF in the UK prior to its merger with BDO were £103.3m in fee income for y/e 31 March 2012, according to the Accountancy Age 2012 Top 50+50 Survey.