PracticeAccounting FirmsCorporate finance boosts Praxity firms in 2014

Corporate finance boosts Praxity firms in 2014

Transactional services lead Praxity firms, which includes Mazars, to 7% overall growth

Corporate finance boosts Praxity firms in 2014

A SOLID SPREAD of performance saw Praxity firms post a 7% increase in revenues during 2014.

The accounting alliance, which includes Mazars and Forrester Boyd among its UK firms, saw a 6.9% like-for-like increase in fees, to $4.4bn (£2.9bn). It had grown 3% in the previous year.

Corporate finance revenues climbed 37%, while audit & accountancy fees rose nearly 9%. Tax fees were up 5%, although corporate recovery and litigation both fell (down 4% and 28% respectively).

Latin American revenues climbed 35%, while Europe and North America rose 7%.

Praxity chairman, Rick Anderson (pictured), said: “Praxity is yet again performing well and reporting consistent growth. Existing firms continue to thrive and new members strengthen our global position.

“I look forward this year to further strategic additions as well as good organic growth and am confident Praxity will maintain its position as the association of choice for the world’s leading independent accountancy firms.”

Praxity staff numbers climbed 6% during the period to 35,485, including 2,813 partners in 625 offices across 102 countries. Firms were added in Germany, Saudi Arabia, Brazil, India, Bangladesh and Colombia.

Mazars saw 10.5% growth for the y/e August 2014, to £132.6m, according to the Accountancy Age Top50 +50 survey.

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