PracticeAccounting FirmsGrant Thornton boasts double-digit growth

Grant Thornton boasts double-digit growth

Tax growing at 17% while audit sees 12% increase

Grant Thornton has reported a 14% growth in turnover for June 2007 year-end,
with pre-tax profit growing by 16% to £76m.

The firm’s merger with RSM Robson Rhodes in July resulted in a £389m
turnover, with more than 300 partners and 4,100 staff in 33 UK, Cayman and
British Virgin Islands locations.

Tax services generated a 17% increase in fee income while audit fee incomes
increased 12%.

Grant Thornton’s CEO Michael Cleary said the income growth of 14% and the
recent merger with RSM Robson Rhodes have propelled the firm into a different
league, thanks to our greater resource, deeper expertise and enhanced
credibility.

‘The merger of Grant Thornton and Robson Rhodes has created a firm which is
the adviser of choice on AIM, a leading player in the mid-market and the
provider of non audit services to one in four of the FTSE 100. We are already
providing a stronger alternative proposition within the market and the deeper
integration of our people can only fuel opportunity and success,’ he said.

‘The market is no longer content with firms, however competent within
national borders, that are unable to access a strong and cohesive international
network. Grant Thornton International provides this strength in depth across 113
countries and a level of cohesiveness that I believe is unmatched outside of the
Big 4. Just in the past few months, beyond the UK, expansion activities have
been undertaken by member firms in India, China, Japan, Russia and parts of
South America, with a new member firm joining in Spain.

‘We remain committed to building a £1/2billion turnover business by 2010 that
is synonymous with excellence in our profession. We will achieve this through
fostering the development of our people, investing in and developing the firm’s
capabilities, both in the UK and internationally and growing the firm’s
reputation to an even greater level,’ said Cleary.

Further reading:

Grant Thornton revenues jump 17%

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