Menzies reports 20% increase in fee income to £40m

Menzies reports 20% increase in fee income to £40m

Following the merger with Harris Lipman in July 2015 the firm’s 2015-16 financial figures reveal Menzies has hit £40m for the first time, a 20% increase on last year’s results

MENZIES has reported fee income £40m after a year of growth.

Following the merger with Harris Lipman in July 2015 the firm’s 2015-16 financial figures reveal Menzies has hit £40m for the first time, a 20% increase on last year’s results, of which 6% is organic growth.

The firm has increased the headcount by a third by welcoming more than 100 new recruits to the team, including 37 trainees who join the Menzies’ Academy.

Additionally, the team has seen 36 internal promotions and 67 people undertake professional training programmes available through the Academy.

Julie Adams, senior partner at Menzies, said: “The firm has grown not only by acquisition, but organically too, which is testament to the hard work and commitment of the entire team. Due to the merger and additional specialisms that we have developed, we’ve opened our existing clients up to a wider range of services while allowing the firm to pursue business across a broader spectrum.

“Our clients are now seeking a single solutions provider to cater for their business needs and not only from an accountancy perspective. As a result, the role of ‘non-accountants’ has become all the more important, particularly amongst our payroll and HR service offering.”

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