Azets UK turnover rises 9.5% to £310m in FY25

Azets UK has welcomed double-digit year-on-year growth in FY25, as turnover rose by 9.5% to £310.7m, with operating profit increasing by more than £12m (113.9%) to £23.1m. 

The UK division now accounts for more than 40% of the wider Azets Group turnover. 

Azets UK’s full-year growth was driven by strong performance across its core service lines, including Audit, Tax, Accounts and Business Advisory Services (10.9%), Corporate Finance (2.6%) and Payroll Services (2.8%). 

The Restructuring and Insolvency division was the fastest-growing sector, rising 22.8% to £9.7m. This activity was driven by a rise in early-stage restructuring and turnaround work for SMEs as economic pressures continued to affect the market. 

Its results come as Azets continues to be active in the UK M&A market, with three acquisitions completed in FY25 and a “strong” deal pipeline which includes the expansion of Azets’ UK footprint into East Anglia.

In August 2024, Azets UK acquired Scottish regional chartered accountancy and wealth management firm Milne Craig, adding 90 employees and more than 2,000 clients to the firm.

It further bolstered its UK wealth management business with the acquisition of Newcastle-based Chartered Financial Planners Laurus Associates by Azets Wealth Management in January 2025. 

In addition, it acquired PKF Francis Clark’s specialist medical accounting practice in February 2025. 

Early in FY26, East Anglia-based Ensors joined the group, marking Azets’ entry into a new UK region.

Peter Gallanagh, UK and Ireland CEO at Azets, said: “FY25 was a strong year for Azets UK, and one we’re especially proud of given the pressure many of our clients – particularly UK SMEs – continue to face. 

“Our performance is down to the commitment and professionalism of our people, who work tirelessly to support clients through challenging conditions while continuing to build a growing, resilient business. It’s a real credit to the teams across Azets UK and the trust our clients place in us.” 

He added: “We’ve deliberately set out to acquire firms that share our commitment to client service and to recruiting and developing their people. We’ve acquired businesses that can grow with us, while strengthening our broad breadth and depth of expertise. This is a path we’ll follow this year and in the future. 

“As we look ahead, we remain confident in our direction and our ability to grow. We are continuing to invest in our people and in the technology that underpins how we serve clients, while staying disciplined as costs and economic pressures remain elevated. Even in that context, our ambitions for the year ahead are significant.”