PracticeAccounting FirmsDisappointing financials released by PKF

Disappointing financials released by PKF

First ever trading figures as LLP put out by mid-tier firm

pkf logo

Mid-tier firm PKF has released disappointing trading figures – the first time
it has done so since converting to limited liability partnership (LLP) status
last year.

In its first annual report the firm reported flat turnover of £101.4m for the
year to March 31, 2006, up from £100.6m in the previous 12 months.

Pre-tax profits climbed from £17.9m to £18.5m following a cut in operating
costs.

The firm employs about 1500 staff in 25 UK locations.

Despite the poor showing, PKF senior partner Ian Mills said the accounts
‘clearly demonstrate the financial stability of the firm’.

‘Average profit per partner increased by over 18% on the previous year and
comparable performance statistics demonstrate our fees per partner are among the
highest in the profession outside the Big Four,’ he added.

The best-performing lines included corporate finance, which saw income rise
from £6.1m to £7.5m. Consultancy and other specialist services also recorded an
increase, from £18.1m in 2005 to £18.7m.

Related Articles

BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

2d Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

5d Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

6d Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

2w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

2w Emma Smith, Managing Editor
RSM announces two partner promotions

Accounting Firms RSM announces two partner promotions

2w Emma Smith, Managing Editor
Backsourcing: The latest accountancy trend?

Accounting Firms Backsourcing: The latest accountancy trend?

1m Pillsbury Winthrop Shaw Pittman