BDO reports stable FY revenues of £1bn as operating profit slips 

BDO UK has reported stable revenue of £1bn for the year to 4 July 2025 as the firm navigated weaker market conditions and continued to invest in staff, technology and infrastructure.The accountancy firm said revenues were £1.005bn, compared with £1.015bn the previous year. Operating profit fell 7.5% to £210m, while profit per equity partner dropped to £589,000 from £681,000, which the firm attributed to an increase in partner numbers and the broader market environment.

BDO said it now has 501 partners, passing the 500 mark for the first time. It recruited 690 trainees during the year across apprenticeship, graduate and industrial placement schemes.

The firm’s four business lines – audit, tax, deals and consulting, risk and outsourcing – recorded mixed performance. Tax revenue grew 3.4% and consulting, risk and outsourcing rose 5.4%, offsetting declines of 3.7% in audit and 4% in deals. BDO said demand was strongest in digital, environmental, social and governance services and risk advisory work.

The tax team also saw increasing work from technology and financial services clients, and from businesses backed by private equity.

BDO said it expects growth in its regional offices to outpace London in the coming years, citing the strength of mid-sized businesses outside the capital and its own local market focus.

The results follow last month’s announcement of a planned merger with BDO Ireland. The combined organisation is expected to generate about £1.1bn in revenue and employ 8,500 people across the UK and Ireland. BDO said the move would expand its offering in key growth sectors in both economies.

The firm also promoted 2,440 people during the year, including 36 new partners. It also maintained its focus on social mobility, being named in the Social Mobility Foundation’s Top 75 Social Mobility Employers Index. Participation in its Explore BDO and Black Heritage insight programmes rose by at least 75%. 

Investment in technology remained a priority, including tools to support audit quality, the use of artificial intelligence and new services in sustainability assurance and digital risk. BDO continued to upgrade its property portfolio with new offices in Manchester, Guildford and Edinburgh, and major refurbishments in Leeds, Birmingham and Southampton. Its new London headquarters is scheduled for completion in late 2027.

Mark Shaw, managing partner at BDO UK, said: “The last year has confirmed to me the power of people coming together to navigate an ever-changing landscape. The well-documented economic headwinds across the UK have resulted in a challenging year for the profession as a whole. Growth rates have slowed and profitability has come under pressure. 

“However, with targeted long-term investments, responsible commercial management and the resilience of our people and the businesses we work with, we have continued to deliver a robust performance.”

He added: “Looking ahead, I see a business that is in the right place to unlock opportunities for our market heartland.

“Our merger with BDO Ireland cements our position as one of Europe’s largest accountancy firms focused on entrepreneurial, growing and ambitious clients. As we have always done, we will grow with those clients. That, combined with the continued investment in our people, quality, technology and infrastructure is a bold statement of intent for our long-term growth. We look to the future with confidence.”