PracticeAccounting FirmsRSM UK reports 9% revenue rise

RSM UK reports 9% revenue rise

The firm saw growth across all core service lines, particularly in consulting, human resource and legal services

RSM UK reports 9% revenue rise

RSM UK has announced a 9% increase in revenue to £319m for the financial year ending 31 March 2017.

The firm saw growth across all core service lines, particularly in consulting, human resource and legal services, in which revenues increased by 46.6% to £16m.

Other key areas of growth included risk assurance, which grew by 14.6% to £25m, restructuring advisory which grew by 9.6% to £39m and tax and advisory, which grew by 8.6% to £138m.

Consolidated UK company profits increased by 16% to £5m while RSM UK’s profits rose by 15% to £49m.

Laurence Longe, RSM’s Chief Executive Officer said: “This year’s excellent financial results very clearly show the commercial benefit of the major investment that has been made in first reshaping and then rebranding the firm following the absorption of the former Tenon business in 2013.”

“Significant underlying organic growth in multiple revenue streams in 2017 is now making its contribution to RSM achieving its long term strategic objective of becoming the first-choice adviser to middle market leaders, globally.”

The firm increased its workforce by 4%, now totalling almost 3,500 staff. Total partner and staff remuneration increased by 11% to £202m, while dividends paid to staff, partners, and retired staff rose by over 4% to £3m.

The firm recently appointed 2 new partners.

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