Evelyn Partners reported an 18.3% increase in adjusted EBITDA to £103.9 million for the first half of 2024. The firm’s assets under management reached a record £62.2 billion, up 13.3% year-on-year, and operating income rose by 10.3%. The growth was driven by strong performance in both professional and financial services, including organic growth and contributions from recent acquisitions. Despite lower gross inflows compared to the previous year, the firm remains optimistic about its medium-term outlook. CEO Paul Geddes highlighted the company’s resilience and strong market position, even amid challenging conditions like inflation and interest rate pressures.
The Floor Room Limited, a subsidiary of Nestware Holdings Ltd and sister company to Carpetright Limited, has appointed PwC as joint administrators following the insolvency of Carpetright. The Floor Room, which relied heavily on Carpetright for its trading infrastructure, faced severe challenges after a cyber attack and subsequent insolvency left it unable to continue operations. All retail locations will close, and 196 employees have been made redundant. The administrators are working to ensure affected employees receive their entitlements, while customers are advised to seek refunds from their payment card providers for unfulfilled orders.
Azets has appointed Ruth Ireland as a partner in its national risk assurance practice, focusing on the South of England. Previously a partner at BDO, Ireland brings over 13 years of experience in advisory and assurance services to corporate and not-for-profit clients. Her new role will involve advising businesses on governance, risk, and internal controls. Ireland’s appointment is part of Azets’ growth strategy for its risk and technology assurance practice, responding to increasing demand for risk management and compliance services. Azets’ leadership praised Ireland’s expertise, viewing her as a significant asset to the firm’s expanding practice.
DTE Business Advisers has promoted Kate Hughes and Richard Askey to partner, reflecting the firm’s commitment to developing its staff. Both Hughes and Askey joined DTE as trainees and have progressed to partner roles. This promotion comes in the same year DTE became part of Accountancy Group DJH, which has expanded opportunities for clients and staff. The partnership with DJH has allowed DTE to offer more specialised services to clients and provide broader support to its teams. DTE leadership expressed confidence in Hughes and Askey’s abilities to contribute to the firm’s ongoing growth and client success.
