Accountancy firm celebrates 14 per cent revenue rise after merger

William Turvill
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Moore Stephens merged with Chantrey Vellacott in May last year (Source: Getty)

Accountancy firm Moore Stephens LLP has reported a revenue rise of 14 per cent.

The firm, which merged with Chantrey Vellacott DFK LLP in May 2015, also reported having more than £13m of new business.

“At the time of the merger, we were confident it would provide a platform for continued, sustainable growth – and the excellent top and bottom line results from the first year of trading certainly supports this,” said managing partner Simon Gallagher.

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“The commercial benefits of the merger have been realised very early, which is particularly exciting for the future.”

Mike Tovey, former managing partner of Chantrey Vellacott, said: “The merger was a coming together of similar philosophies and values to form a strong combined firm.

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“This has been proven with the first year’s financials, and headcount continues to rise to service new and existing clients.”

Profits after tax came in at £22m, an increase in average profit-per-partner of 33 per cent on the prior year.

Senior partner and chairman of Moore Stephens International Limited, Richard Moore, added:

We are proud and encouraged by the performance over the last year, particularly so soon after what was a huge change for the firm, and despite the current uncertain economic climate. The challenge is to capitalise on the first year and continue to maximise the strengths of the combined firm.