Haines Watts has recorded another strong financial year, with a turnover of £96m for FY19, a second consecutive year of double-digit growth for the group.
The latest financial results revealed a 13 per cent uplift in revenues from both an active acquisition strategy and organic growth despite a slower growth rate prediction due to Brexit. The results follow on from a significant 16 per cent revenue growth last year.
Haines Watts acquired £11m turnover during the financial year, taking over new businesses in five cities: London, Birmingham, Liverpool, Bristol and Nottingham. As we head into the new financial year, we will also see acquisitions in the North East, already recording 6 per cent in acquired fee growth.
Although the company’s Kent and Glasgow locations left the group, resulting in a slight £3m drop in turnover, new acquisitions have formed 7 per cent, approximately half, of the group’s total growth for this financial year.
Despite investing heavily in people recruitment, with 13 new partner appointments in April 2019 alone, Haines Watts recorded over 10 per cent profit. Technology and office environment developments were also high on the investment list.
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