Price 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.

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