PracticeConsultingRecord results for BDO

Record results for BDO

BDO Stoy Hayward is set become the first mid-tier firm to break the #200m fee income barrier after a year fuelled by growth in corporate finance and business recovery services, writes Adriana Zea.

The record figure for the year to 31 March 2001, a rise of 26% over the prior year, makes the mid-tier firm the biggest outside the Big Five, knocking rival Grant Thornton out of top position.

But Grant Thornton, whose fees totalled #164m in the year to June 2000, has not yet come to the end of its comparative accounting period.

BDO’s figures, which will be officially revealed over the next week, show that most of its growth came in its business recovery and corporate finance services, an unusual economic phenomenon according to managing partner Simon Bevan.

He told Accountancy Age: ‘We have a lot of business clients who are merging, buying, floating, and other corporate finance activities and the business recovery team is also busier.’

Bevan added: ‘We see this as proof that the rescue culture is working and there’s good quality turnaround work. The rescue culture has meant that a lot of businesses come to us before it’s too late.’

The mid-tier firm, based in Baker Street, London, also saw an increase in its core audit and tax businesses well above gross domestic product and inflation growth.

Partners culled at BDO Stoy Hayward www.accountancyage.com/Practice/1120432

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer