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Mazars has announced a 7.8% increase in revenues to €1.9bn (£1.66bn) in its 2019/2020 financial year ended 31 August 2020, compared to the previous financial year.
The increase in fee income reportedly comprises “strong organic growth” (5.9%), complemented by positive external growth (1.8%).
Despite the impact of Covid-19, Mazars revealed it continued to invest and plan for its future. Over 1,100 partners recently voted to approve the new strategic plan, ‘One24’, a title recognising the “uniqueness” of Mazars’ united partnership model.
To support its “renewed, diverse” leadership team, Mazars has reviewed and reinforced its governance structure, which comprises the group executive board (GEB) and group governance council (GGC). The new governance team was elected during the firm’s virtual partner conference in December 2020.
Of the 23 elected members in the GEB and GGC, ten are female, equating to 44% of Mazars’ governance positions being held by women, which represents strong gender diversity in the firm’s leadership.
In October 2020 the group launched its new brand identity which “reaffirms its purpose and long-standing values of integrity, responsibility and accountability”. Mazars said the rebranding better reflects the group, as well as the “unique experience” it strives to deliver.
Commenting on the firm’s financial performance, Hervé Hélias, CEO and chairman of Mazars Group said: “For people, businesses and society, 2020 has been a year like no other.
“Amid a global pandemic, with our focus on keeping our people safe and continuing to deliver top quality services to our clients, Mazars has shown remarkable resilience achieving 7.8% growth, most of it organic.”
He added: “The pandemic and related economic crisis certainly bring a challenging period, but we are looking beyond that, investing in our organisation and in our people to deliver what our clients need and what they expect from us.”
