Mazars UK 2017 Financial Results

12 April 2018

Mazars, the international accountancy and advisory firm, has released its UK results for the year ended 31 August 2017.

The firm’s overall fee income increased from £160 million to £174 million, representing 8.5% growth. This is the sixth successive year of growth. Operating profit was £32 million, a 3% increase over the previous financial year.

Performance was strong across all service lines, with particularly sizeable growth in Financial Advisory, Accounting and Outsourcing (23%) and Financial Planning (18%).The July 2016 acquisition of Corality, the global infrastructure financial modelling and training business, also had a positive impact on revenues. In line with clients’ growing requirements for data services and security, Mazars Technology Solutions showed significant growth during 2016/2017.

Group income totalled 1.5 billion euros for the 2016 - 2017 financial year [1], up 12.8% [2] from the previous year. This increase reflects an organic growth of 5.4% and an external growth (via acquisition) of 7%. In particular, the group benefited from the full-year impact of the integration of the Chinese firm ZhongShen ZhongHuan, which took place at the end of 2015. On a global level, Mazars' integrated partnership grew strongly in both income and geographical reach. Over the course of the year 2016-2017, the group expanded into Bulgaria, Cyprus, Kosovo, Mozambique, and Tanzania; it also strengthened its presence in Sweden.

In total, over the past 4 years, the group has seen its revenue surge by 45%. The group's international development largely contributed to this growth. This is evidenced by the fact that the group's revenues outside Europe now account for 34% of total revenues, thanks in particular to a significant strengthening of its presence in Africa, North America, and Asia.

Phil Verity, UK Senior Partner said: “I am proud that we have achieved another year of consistent growth and profitability. Our growth has been sustainable and provides an excellent foundation for the next three years”.

He added: “Looking ahead, we will continue to invest in our business to achieve further long-term sustainable growth. Strong financial results have been matched by innovation across the business, and commitment to society. Our people are critical to this and we remain dedicated to nurturing and developing talent to deliver trust, create value and offer exceptional service to our clients.”

 

-ENDS-

 

[1] Financial period ending 31 August.

[2] Excluding a foreign exchange effect of -1.6 %

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