Baker Tilly overtakes Horwaths.
Mid-tier firm Baker Tilly has posted results revealing a 13% growth in fee income.
The firm reported total fees of £79.2m for 2000/2001 – £9.2m up on the previous year’s figure of £70m, which included income from merger partner Fraser Russell. Previously tenth largest, the result will place BT above rival Horwath Clark Whitehill, which has not matched BT’s growth rate.
Baker Tilly claimed significant growth in its corporate finance, business recovery and tax practices adding it had worked on a number of AIM and OFEX listings.
Commenting on current market conditions, managing partner Laurence Longe said: ‘Consolidation, specialisation and fragmentation are the norm as the profession transforms itself to meet market requirements.’
Longe did not rule out further mergers, saying the firm’s position was constantly under review. He added that the firm would be looking for growth both organically and through acquisitions.
Last summer Baker Tilly merged with Fraser Russell, a move which first launched the firm into the top ten. Earlier this year, John England took over as chairman of the firm.
The 2001 Accountancy Age Top 50 will be published in next week’s issue.