Accounting Firms

Haines Watts records double-digit growth for second year

Haines Watts has announced it has recorded another strong financial year, with a turnover of £96m for FY19, a second consecutive year of double-digit growth for the group.

The latest financial results revealed a 13% increase in revenues from both an active acquisition strategy and organic growth despite a slower growth rate prediction due to Brexit. The results follow on from a significant 16% revenue growth last year.

Haines Watts acquired £11m turnover during the financial year, taking over new businesses in five cities: London, Birmingham, Liverpool, Bristol and Nottingham. In the new financial year it also expects acquisitions in the North East, and has already recording 6% in acquired fee growth.

The firm also revealed despite the company’s Kent and Glasgow locations leaving the group, resulting in a slight £3m drop in turnover, new acquisitions formed 7%, approximately half, of the group’s total growth for this financial year.

Group managing partner Michael Davidson said: “With the addition of new businesses to our group, we are steadily expanding our service offering which is leading to a rounder advisory service with existing clients and generating new fee income.

“Haines Watts is now able to advise wider on complex tax matters and private client work; we are fully able to provide business owners advisory support in today’s challenging climate.”

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