Mazars FY21 revenues spike to £234m

Mazars has announced its revenues grew 14% to £234m in the financial year ending 31 August 2021 (FY21), increasing by £29.4m, which marks the 12th consecutive year of revenue growth for the firm.

Mazars reported growth across all business areas, with assurance and internal audit increasing by 25% to £98.4m. Financial advisory, consulting and outsourcing also increased by 8% to £87.5m. 

Mazars said this was largely driven by the resurgence of the M&A market, supporting clients in transitioning to cloud-based accounting, and ongoing support provided by specialists in risk management, financial modelling, technology, and crisis and disputes.

Additionally, tax and financial planning reported growth of 8% to £48.1m, which was reportedly underpinned by the team supporting a “growing” number of clients through “challenging and changing times”.

At an international level, Mazars delivered revenues of €2.1bn (£1.75bn) over the same period, representing a 12.3% increase year-on-year. The increase in fee income comprises organic growth of 9.4%, complemented by external growth of 2.7%.

Overall, the firm welcomed over 1,100 new team members in the last calendar year and a “record” 359 trainees in September 2021, with over 30% of people promoted within the business.

Phil Verity, CEO, said: “Despite multiple lockdowns, remote working and any number of individual and collective challenges, our teams have provided outstanding positive support for our clients in these challenging times.

“Thanks to our exceptional team and strong relationships with our clients we continue to grow through the delivery of high-quality work.”

He added: “We are excited about our future prospects as we maintain a clear focus on delivering a strategy based upon seizing our market opportunities, ensuring that we promote excellence in the way we work, and continuing our journey towards developing Mazars into an ever more purposeful firm.”