Kreston Reeves celebrates £3.6m revenue increase with recent hires and merger

Kreston Reeves have reported an 11 percent increase in turnover in the last year.

Revenues were up £37.38m in 2018 from £33.78m in the previous year. Profits soared from £8.7m to £10.1m.

The firm of accountants and business and financial advisers published last year’s report with the year ending 31 May 2018.

Nigel Fright, managing partner at Kreston Reeves, said: “We continue to build on and expand our firm, with a strong team, depth and breadth of services with sector expertise and excellent geographical reach.

We are greatly encouraged by our continued growth and the opportunities ahead, particularly from international businesses seeking to invest and do business in the UK.

“We continue to make significant investment in our people increasing the allocation of profits into our staff bonus scheme, in the role we play in our local communities, and in technology creating a firm that will continue to meet the needs of its clients in future years.”

Kreston Reeves puts much of its success down to a number of key hires it made across the firm.

Jack Clipsham was hired as the new corporate finance partner earlier this year, bringing with him 25 years of experience as a specialist in corporate finance, including the development of advisory and transaction support services for top 10 global accounting firms in England and Asia Pacific.

Kreston Reeves also merged with corporate finance boutique, SamCorp, the company behind some of the biggest sales and acquisitions around the South East area in the last 20 years.

Finally, the growing firm made the decision to appoint a new director of VAT and Duty, Colin Laidlaw, who trained with Big Four firm KPMG and has also worked for BDO and RSM.

Kreston Reeves is celebrating success in a number of areas. While it has been growing it has also been focusing attention on corporate social responsibility.

The advisory firm created its own charitable foundation to coordinate activities and fundraising, which will be run by employees and aiming to raise money for local and national charities including Martha Trust, Porchlight, Kent & Sussex Air Ambulance, Mind, and the Children with Cancer Fund.

Kreston Reeves now has more than 50 partners and over 550 staff across the business with nine offices in total in London, Kent, and Sussex.

Their customer base tends to include entrepreneurial type businesses as well as not-for-profit organisations and wealthy families.

News of their successful growth comes as the whole accountancy industry enjoys a shakeup. Just after Kreston Reeves’ annual results were released, BDO announced its merger with Moore Stephens, making the new firm under the BDO brand the fifth largest firm behind the Big Four.