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Grant Thornton has revealed that its operating profit rose 18% from £124m up to £146m for the year ended 31 December 2023.
Alongside this, the company saw its net revenues rise 7% from £610m up to £654m for the period.
The firm reached a total headcount of over 5,500 people in December, a 5% increase on last year with over 1,200 new joiners and 25 new partners. As a result the firm’s average profit per partner rose by 11% up to £644,000.
Grant Thornton invested £11m in salary increases and allocated 15% of trading profits for discretionary bonuses.
Malcolm Gomersall, CEO of Grant Thornton UK LLP, said: “2023 was another standout year for our firm and that’s down to the contributions of the more than 5,500 people who make up Grant Thornton. Whilst uncertainty, inflationary pressures and overall trading conditions continued to impact our markets, our firm’s resilience meant we were able to continue investing in our people and operations to remain a top choice for clients.
“I’m exceptionally proud of the efforts our people and the partnership made over the year, which enabled this success – not just in the headline financial figures, but also in our culture of everyday inclusion, which makes Grant Thornton an employer of choice.”
He added: The foundations we’ve laid mean our firm is set up for future success, with a strong pipeline of talent, a culture focused on ‘doing what’s right, ahead of what’s easy’ and an operational agility which allows us to capitalise on new market opportunities whilst maintaining a core focus on quality. This gives us a powerful platform to continue to grow in the years to come.”
