Haines Watts breaks £100m turnover barrier
Haines Watts has released its latest financial results, with the firm breaking the £100m barrier by recording a £106m turnover in FY20.
Another year of double-digit revenue growth was achieved with 11% growth predominantly down to the nationwide accountancy group’s continued acquisitive ‘buy and build’ strategy. An increase in turnover flowed through from FY19’s new territories, as well as more recent acquisitions in the North East and Scotland.
Managing partner Michael Davidson said: “We are pleased to close off last year exactly where we thought we would be, with our acquisition strategy delivering the double-digit growth we have planned. Hitting the £100m mark as we enter our 90th year in business is a huge achievement and testament to everyone that works across the UK for the firm.
“With the addition of new businesses to our group, we are steadily expanding our service offering which is leading to a rounder advisory service with existing clients and generating new organic fee growth. Haines Watts is now able to advise wider on complex tax matters and private client work; we are fully able to provide business owners advisory support in today’s challenging climate.
“We have more than 70 service line across the business. The Coronavirus pandemic has meant we can bring in the experts in all aspects of business, from legal to tax planning, cash flow management to crisis business planning. We have taken on a therapeutic role in a lot of cases, so much so in fact I can see the firm employing business psychologists in the future – wherever the business owner needs advice and support we want to be in a position to help.”