EY reports growth with strong north west performance
EY has reported UK fee income growth of 9.2 per cent to £2.35bn for the year ending June 30, 2017.
This is up from £2.15bn in the previous year as the professional services firm providing assurance, tax, transaction and advisory services adds more than £1.3bn of organic revenue since 2010.
The firm, which has a north west office, employs more than 14,000 people and has 685 partners in the UK.
The performance of EY’s 630-strong north west practice was in line with the UK firm’s market-leading growth during FY17. EY’s north west transaction advisory services team saw a particularly strong performance – with a number of high profile private equity and corporate transactions in the region.
Notable deals include NorthEdge Capital’s investment in ITC Luxury Travel, Abbey Logistics Group’s sale to NorthEdge Capital, Kohler Power Group’s acquisition of Clarke Energy and listed company Styles&Wood Group’s acquisition of The GDM Group.
The regional practice welcomed Bob Ward as its new north west senior partner in January and also moved into its new Manchester offices at EY was the first tenant to move into the purposebuilt building, taking 42,000 sq ft over three floors.
The office move was part of the EY@ Work global programme, which is being rolled out across 100 locations globally to reflect the changing needs of the firm’s workforce.
Bob said: “Our strong performance in the north west – which was in line with our market-leading UK growth – is underpinned by our continued commitment to this region.
“Our investment in 2 St Peters Square is a major demonstration of that commitment and also of our confidence in the north west’s growth prospects.
“It’s has been a fascinating time for me to take on this role, which I have relished over the last nine months.
“The current economic and political environment as we head towards leaving the European Union does present challenges but there is also great opportunity. Proof of this are the great transactions our team has worked on for our clients in the region over the last year and our own continued growth in the region.”
Business growth has enabled EY to invest in its people and during the period to the end of June the firm made 13 director promotions, as well as promoting Anne Wong in EY’s Manchester tax team to associate partner.
In September, the north west practice increased its graduate intake by 35 per cent to 66 and welcomed 12 apprentices to EY’s Business Apprenticeship programme, which offers young people an alternative to university.