Cooper Parry, which quit the PKF network last May in a dispute over plans for geographic expansion, has reported near double digit organic growth
The firm reported a 9.8% hike in organic revenue growth for the year in 2019 with fee income of £36.7m for year end 30 April 2019, up from £34.25m the previous year.
Pre-tax profit was £9.43m compared to £8.4m, while profit for the year before members’ remuneration and shares came in at £8.57m, up from £7.58m.
According to accounts filed with Companies House, the reported results show 6.3% revenue growth and were impacted by a reduction in turnover and profits described as ‘related to businesses we took the decision to divest during the previous financial year.’ These included payroll services and its restructuring offering.
Cooper Parry completed a major refurbishment of the East Midlands office, focused on increased flexibility and digital ways of working and also expanded into areas outside the Midlands, opening new office locations in Bristol, London and in the US in Dallas.
The Bristol office is currently focused on Cooper Parry’s wealth services, while the London office offers the full range of audit and accounting services.
Between 2015 and 2019, the firm has more than doubled in size to £37m and over the same period, headcount has also more than doubled to 445. This year Cooper Parry made 40 promotions and hired 143 new starters, including five partners.
Cooper Parry joined the PKF UK network in January 2014 and at the time rebranded as PKF Cooper Parry, becoming the network’s representative in the Midlands.
It left in June 2019, after a geographic conflict over an office opening, which competed with another PKF UK member firm and broke the 50-mile radius rule, although the office itself was part of Cooper Parry’s wealth management arm.
Cooper Parry CEO Ade Cheatham (pictured), said: ‘With three new offices on both sides of the Atlantic, a world-beating IT team to complement our core business areas, and consistent engagement with some really exciting entrepreneurs, we are in position to raise the bar again in 2020.'
Related article: Cooper Parry quits PKF UK accountancy network