South: RSM reports annual revenue rise of 9%
Leading audit, tax and consulting firm RSM - sponsors of the Solent 250 - today announced a 9% increase in UK annual revenues to £319 million for its financial year ending March 31, 2017.
While consulting, human resource and legal services revenues grew by 46.6% to almost £16m for the year, all other core service lines contributed to the growth in revenues.
- Tax and advisory grew by 8.6% to £138m
- Audit and assurance grew by 4.8% to £77m
- Restructuring advisory grew by 9.6% to £39m
- Risk assurance grew by 14.6% to £25m
- Corporate finance grew by 1% to £24m
Partner and staff numbers rose to almost 3,500 while total partner and staff remuneration increased by 11% to £202m.
Consolidated UK company profits grew by 16% to £5m, while profits of RSM UK Group LLP rose by 15% to £49m.
Meanwhile, dividends paid to staff, partners, and retired staff and partners rose by over 4% to £3m.
Laurence Longe, RSM chief executive, said: "This year’s excellent financial results very clearly show the commercial benefit of the major investment that has been made in first reshaping and then rebranding the firm following the absorption of the former Tenon business in 2013. Significant underlying organic growth in multiple revenue streams in 2017 is now making its contribution to RSM achieving its long term strategic objective of becoming the first-choice adviser to middle market leaders, globally."
