PracticeAccounting FirmsSmith & Williamson reports staggering growth

Smith & Williamson reports staggering growth

Smith & Williamson reports stunning growth of 32% for the six months to 31 October

Smith
& Williamson
has posted an impressive 32% rise in pre-tax
profits to £8.6m for the six months to the end of October 2006.

The stunning results couldn’t have come at a better time for the accounting
firm, which is exploring the possibility of
floating as a public
company later this year.

‘Our strong performance in this period and our positive outlook for the full
year means that we are able to announce an interim dividend of 3p per share,
representing an increase of 20% over the previous year,’ said Smith &
Williamson
chairman
Gareth Pearce
.

Operating income rose 12% to £69.6m over the period and operating profit
climbed 16% to £11.6m.

A further highlight was the improved performance of 2005 acquistion Soloman
& Hare, where operating margins improved markedly.

Further reading:

Smith & Williamson lines up autumn stock market
launch

Smith & Williamson considers public listing

Business mauled by ferocious watchdog

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