BDO UK to recruit 500 additional staff

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BDO Stoy Hayward LLP has announced its interim figures for the six months to 31 December 2005. They show a dramatic growth in fee income of 25 per cent, compared to the same period in 2004/05. Total fee income for the first six months of the year rose to £124.4m (6 months to 31 December 2004- £99.7m).

Fee income isn’t the only growth area for the firm as average staff numbers in this period have also increased by 27 per cent to 2,670 staff.

Jeremy Newman, Managing Partner at BDO Stoy Hayward, commented: “We are delighted with these interim results which show a better than expected growth in fee income. It is particularly pleasing as these figures build on a 21% rise in fee income last year when most other firms were seeing more modest growth. This is a reflection of the increasing recognition of the strengths of BDO Stoy Hayward in the market place.

“The significant increase in our staff numbers is testament to our values and our employment proposition. We aim to recruit, develop and retain the best people to deliver quality work and excellent service to our expanding client base.”

The firm’s four main business streams have each shown considerable growth over the six month period compared to the same period in 2004/05. Tax delivered the highest growth at 27 per cent, followed by Business Assurance at 26 per cent, Corporate Advisory at 22 per cent and Investment Management at 19 per cent.

Commenting on future plans for the firm, Jeremy Newman says: “We have ambitious growth targets for the next two years and in order to achieve this, we intend to recruit a further 500 staff. Our continued focus on the development of our people will enable us to further enhance our market leading position in the mid-tier and to respond to the challenges of acting for a larger number of fully listed clients.”

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