WASHINGTON: RSM’s revenues rose 26% to £292m while profits grew 39% to £45m for the financial year ended 31 March thanks to strong growth in all its service lines
Consolidated or post-tax profits increased 52% to £19m. The results were driven by strong growth in restructuring advisory, risk assurance and consulting, as these services grew 69%, 86% and 195% respectively.
Tax and advisory also grew 10% to £121m, followed by audit and assurance, which rose 15% to £76m. Moreover, RSM said the average partner profit increased by 10% to £362,000.
RSM International announced a global rebrand in October this year, with more than 110 member firms adopting the name worldwide.
Prior to the rebrand, RSM UK was known as Baker Tilly. The firm officially joined the RSM International network in 2014, after it had purchased of RSM Tenon out of administration in 2013. When the merger took place the firm numbered a combined workforce of 3,500 employees, as well as a joint fee income of more than £300m.
Laurence Longe, RSM’s UK managing partner, said the results show the “full impact” of the absorption of the former Tenon business and the organic growth following the completion of its strategic restructuring.
