Profits shoot up at Grant Thornton
Grant Thornton has hailed its restructuring following the merger with Robson Rhodes and decisive action to lower its costs base at the start of the downturn. It has cited them as important key drivers behind a 40 per cent leap in pre-tax profit for the year to 30 June – up to £77.6m. This performance by the business consultancy, which has an office in Birmingham, was based on revenue of £379.7m.
Scott Barnes, chief executive at Grant Thornton, said that acquisitions formed "a key element" of grant Thornton's strategy.
Dave Munton, office managing partner at Grant Thornton's office in Birmingham, said: "The Birmingham office audit and tax departments have been stable during the year due to a combination of the efforts of a fantastic team and a well diversified client portfolio which, despite the downturn, has remained reasonably active.
"On the advisory side, we have also benefited from a period of investment in two new partners, Ian Wilson and David Bennett, and in new senior personnel in corporate finance, tax and reorganisation and recovery. We are certainly beginning to see a cautious upturn in the market locally and I believe we are well positioned to capitalise on these growth opportunities."
