PracticeAuditSmith & Williamson posts record profits

Smith & Williamson posts record profits

S&W posts record profits as a result of good market conditions for fund management, and audit committees' need for advisory services

Smith & Williamson has posted £25.3m profits for the year, its highest
ever figure.

The firm grew profits before tax by 39% on 2006, and saw fee income leap by
13.7% to £150.5m.

The firm benefited from favourable market conditions across its investment
management and banking, and tax and business services divisions.

‘The new year has started well and, provided there is no material
deterioration in world markets or the UK economy, following the recent turmoil
in the credit markets, we remain confident of making further progress this
year,’ said chairman Gareth Pearce.

He said the market had supported growth in funds under management, and the
requirement for audit committees to seek independent advice had generated new
business for the group during the past year.

Further reading:

Smith & Williamson listing delayed

Smith & Williamson lines up autumn stock market
launch

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

12h Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

5d Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

2w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

1m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter