Grant Thornton UK announces 14% Revenue Growth

Grant Thornton has today reported double digit (14%) growth in turnover for the year ending 30 June 2007 with pre-tax profit growing by over 16% to GBP 76m. Having completed a merger with RSM Robson Rhodes on 1 July 2007, Grant Thornton has since grown into a GBP 389m turnover business with over 300 partners and 4,100 staff operating from 33 locations in the UK, Cayman and the British Virgin Islands.

Michael Cleary, CEO, Grant Thornton UK LLP said: “Grant Thornton is going from strength to strength. An income growth of 14% in our last financial year and the recent merger with RSM Robson Rhodes have propelled the firm into a different league, thanks to our greater resource, deeper expertise and enhanced credibility.”

“The market is no longer content with firms, however competent within national borders, that are unable to access a strong and cohesive international network. Grant Thornton International provides this strength in depth across 113 countries and a level of cohesiveness that I believe is unmatched outside of the Big 4. Just in the past few months, beyond the UK,expansion activities have been undertaken by member firms in India, China, Japan, Russia and parts of South America, with a new member firm joining in Spain.”

“To thrive we need to present our clients with an ever improved offering of local knowledge and global access which will boost our business and also allow us to break down those misplaced institutional perceptions that have stopped us from being seen as a real option within the larger listed company audit market.”

“We remain committed to building a GBP 1/2billion turnover business by 2010 that is synonymous with excellence in our profession. We will achieve this through fostering the development of our people, investing in and developing the firm’s capabilities, both in the UK and internationally and growing the firm’s reputation to an even greater level,” concluded Cleary.