Accounting Firms

Hurst sees fee income rise 20%

The firm, which was established in 1982, focuses on advising entrepreneurial owner-managed businesses with turnover of £5m and above

Accountancy and advisory firm Hurst has revealed fee income rose by 20% in the 12 months to 31 March and has already secured an order book of £8.2m for the new financial year.

The firm also revealed that staff numbers have increased to over 90 and that it expects its workforce to top 100 over the next six months as it caters for an expanding client base and a “buoyant” deals pipeline.

Hurst, which was established in 1982, focuses on advising entrepreneurial owner-managed businesses with turnover of £5m and above. Clients include Kinaxia Logistics, M&I Materials, Beechfield Brands, Duerr’s, Oliver Valves and Delamere Dairy.

CEO Tim Potter hailed a “pivotal” year for the firm as it secured more advisory work with existing clients to help them “prosper through the turmoil and beyond”. The firm also grew with a host of UK and international client wins across sectors including manufacturing, engineering and wholesaling.

Pottersaid: “Our diligence in choosing to work with only the best entrepreneurial businesses has really paid off. Hurst’s mission is to help our clients prosper and grow and, over the past year, many have sought to restructure, re-tool and re-engineer their businesses to meet the challenges of coronavirus and Brexit and prepare for the ‘new normal’.

“This has meant advising on changing business models and de-risking strategies, including setting up operations abroad, digitalisation, transitioning to employee ownership trusts and developing new channels and routes to market, in particular importers selling to multi-site retailers.”

He added: “At the same time, the mergers and acquisitions market has rebounded strongly as investors seek opportunities, and companies with cash reserves look to grow through acquisitions as we emerge from the pandemic. Our corporate finance deals pipeline is stronger than ever.

“As a result of these trends, our full-service offering has really stood out in the market. As we enter our 40th year, we look forward to the future with confidence due to the enduring strength of our proposition.”

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