Accounting Firms

Johnston Carmichael sees turnover increase despite Covid impact

Partners reduced drawings and deferred pay-outs to protect cash flow while further digitisation was adopted to standardise and streamline processes

Johnston Carmichael has reported a 6.2% increase in turnover despite the challenges of the pandemic in its annual results for the financial year ending 31 May 2021.

Compared with the previous financial year when profitability was adversely impacted by Covid, turnover rose to £54.6m after the business said it “placed a firm focus on resilience and demand for its services increased”.

The firm said it took a “range of measures to protect the firm from the economic uncertainties posed by the pandemic”.

Partners reduced drawings and deferred pay-outs to protect cash flow while further digitisation was adopted to standardise and streamline processes.

The firm also said it “reshaped and strengthened” its sector focus to harness its specialist knowledge and offer enhanced support across key markets.

CEO Andrew Walker said: “It has been an extraordinary year and like our clients we have faced challenges brought about by the pandemic, but I am extremely proud of the way our business has gone above and beyond to deliver high quality work, adding value for our clients as they navigate the economic recovery.

“Being recognised as trusted advisers, is only possible due to the drive and determination of our exceptional people.”

He added: “We are a people business. Having the right people and skills is crucial to our future success, but importantly it also creates opportunity. Thanks to the great talent we have in Johnston Carmichael we were able to promote 60 people across the firm last year and hire 100 students – a record number for the business.

“We will continue to invest in learning and development to ensure our people and partners are the best they can be.”

Show More
Back to top button