More NewsMazars grows 4% in 2008/2009

Mazars grows 4% in 2008/2009

Emerging markets boost Mazars after profits decline in Europe

Mazars
has posted growth for its global business, despite tough conditions holding back
its European market.

Turnover was 773.6m Euros for the year ending 31 August 2009, a 6.4% increase
at constant exchange rates and 3.9% after exchange rate effects.

Profitability declined in Europe, but emerging markets’ continued growth left
group profit unchanged at 147m Euros.

UK turnover fell 3% to £101.3m, with half of this drop attributable to the
disposal of its Huddersfield office.

Mazars president Patrick de Cambourg said the firm had maintained investment
– bringing five more firms into its partnership – while reining in costs.

“In Europe as a whole it’s been stable, with very limited redundancies in
staff. Emerging economies have given us organic growth,” said de Cambourg

While growth had been split evenly between organic and mergers, the firm was
attempting to hit double-digit organic growth within three years.

“We’re trying to engineer organic growth, 8% [is the target] in the current
year.”

Main threats for the firm going forward are around managing its talent base.

“We must concentrate at a global level…recruiting, retaining, empowering and
training.”

Further reading:

Profile: Patrick de Cambourg,
president of the Mazars Group

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