Audit, tax and consulting firm RSM have today announced a 9% increase in UK annual revenues to £319 million for its financial year ending 31 March 2017.
While consulting, human resource and legal services revenues grew by 46.6% to almost £16 million for the year, all other core service lines contributed to the growth in revenues.
RSM’s tax and advisory sector grew by 8.6% to £138 million; audit and assurance grew by 4.8 % to £77 million; and restructuring advisory grew by 9.6% to £39 million.
Partner and staff numbers rose by 4% to almost 3,500 while total partner and staff remuneration increased by 11% to £202 million.
Consolidated UK company profits grew by 16% to £5 million, while profits of RSM UK Group LLP rose by 15% to £49 million.
Meanwhile dividends paid to staff, partners, and retired staff and partners rose by over 4% to £3 million.
Laurence Longe, RSM’s Chief Executive Officer 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.”