REVENUES at RSM increased 26% to £292m for its 2015 financial year ending 31 March, owing to double-digit growth across all its service lines.
In its first set of accounts to be published since Baker Tilly rebranded as RSM in October, the firm said that UK company profits grew by 52% to £19m, while average partner profit rose by 10% to £362,000.
The results were driven by strong growth in all RSM’s service lines. Tax and advisory grew by 10% to £121m; audit and assurance grew by 15% to £76m; Restructuring advisory grew by 69% to £44m; risk assurance grew by 86% to £22m, while corporate finance grew by 29% to £21m.
Consulting – currently the firm’s fastest growing service line – grew by 195% to £8m.
The figures also reflect a full year’s contribution to revenues and profits of the former RSM Tenon business acquired in September 2013.
Laurence Longe, RSM’s UK managing partner, said: “This year’s record financial results for the firm show not only the full impact of the absorption of the former Tenon business, but also reflect underlying organic growth in multiple revenue streams following the successful completion of the strategic restructuring of the firm.
“The major structural developments of the last two years, along with the recent highly successful launch of our new global brand have laid the foundations for RSM to truly become the first-choice adviser to middle market leaders, globally.”
Andrew Howson joins the firm from EY, bringing experience in advising private equity and corporate clients across multiple sectors in the UK and Europe
Dennis Layton takes up the position on April 1 and will contribute to the firm’s goal of becoming the leading global professional services organisation by 2020
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'