PracticeAccounting FirmsPrice Bailey records double digit profit growth

Price Bailey records double digit profit growth

The firm has announced like-for-like growth of 12% for the year ending 31 March 2017, generating over £25m in annual rolling fee income for the first time

Price Bailey has announced like-for-like growth of 12% for the year ending 31 March 2017, with the firm generating over £25m in annual rolling fee income for the first time.

When looking at like-for-like growth over the last two years, the firm recorded growth of 25%.

The firm has expanded specialist ancillary services, including legal, corporate finance and tax – investment in which has been supported by a strong performance across its core accounting and auditing services.

Price Bailey said that the growth could be attributed to investment in people, including staff training and employee engagement. The firm offers internal coaching and talent management initiatives to its employees in addition to a flexible working programme and an all employee share scheme.

The firm has made 42 promotions since April this year, with the total number of partners at the firm now standing at 29.

Martin Clapson, managing director at the firm, said: “The firm is growing rapidly and has just achieved its most profitable year to date. A big part of this success is down to the exceptional client care offered by our highly trained and engaged team. Our people play a key role in our long term strategy for growth and will support our strategic aim to become the leading mid-tier accountancy practice in East Anglia.

“We are currently recruiting for 62 vacancies of which more than half are completely new positions across the practice. It’s a really exciting time for Price Bailey and with such a talented and motivated team, I am very confident our growth and success will continue.”

The firm announced a merger with Cambridge-based accountancy firm Sandcroft in May this year.

Related Articles

haysmacintyre celebrates partner promotion and additional hire

Accounting Firms haysmacintyre celebrates partner promotion and additional hire

1d Lucy Skoulding, Reporter
EY director joins Crowe Clark Whitehill as partner

Accounting Firms EY director joins Crowe Clark Whitehill as partner

5d Emma Smith, Managing Editor
RSM announces growth across every business line in 2017

Accounting Firms RSM announces growth across every business line in 2017

1w Lucy Skoulding, Reporter
WorkStyle: Helping accountants to support new contractors

Accounting Firms WorkStyle: Helping accountants to support new contractors

2w ClearSky Accounting | Sponsored
Grant Thornton grows profits while radically reshaping portfolio

Accounting Firms Grant Thornton grows profits while radically reshaping portfolio

2w Alia Shoaib, Reporter
How to protect LLP firms from a damaging team move

Accounting Firms How to protect LLP firms from a damaging team move

2w Clive Greenwood, Lewis Silkin
Grant Thornton reports gender pay gap at 26.6%

Accounting Firms Grant Thornton reports gender pay gap at 26.6%

4w Alia Shoaib, Reporter
5 ways to adapt your accounting services for millennial clients

Accounting Firms 5 ways to adapt your accounting services for millennial clients

1m Receipt Bank | Sponsored