Mazars reports 8.5% hike in fee income
Mid-tier firm Mazars has reported an 8.5% rise in overall fee income for the year ended 31 August 2017, marking its sixth successive year of growth
13 Apr 2018
The firm’s overall fee income increased from £160m to £174m, while operating profit was £32m, a 3% increase over the previous financial year.
Mazars reported strong performance across all service lines, with particularly sizeable growth in financial advisory, accounting and outsourcing (23%) and financial planning (18%).The July 2016 acquisition of Corality, the global infrastructure financial modelling and training business, also had a positive impact on revenues.
In addition, Mazars published its global results which show group income totalled €1.5bn for the 2016 - 2017 financial year, up 12.8% from the previous year. Mazars said the increase reflects an organic growth of 5.4% and an external growth (via acquisition) of 7%.
In particular, the group benefited from the full-year impact of the integration of the Chinese firm ZhongShen ZhongHuan, which took place at the end of 2015. On a global level, Mazars' integrated partnership grew in both income and geographical reach. Over the course of the year 2016-2017, the group expanded into Bulgaria, Cyprus, Kosovo, Mozambique, and Tanzania; it also strengthened its presence in Sweden.
In total, over the past four years, the group has seen its revenue increase by 45%, driven largely by international development. The group's revenues outside Europe now account for 34% of total revenues, thanks in particular to a significant strengthening of its presence in Africa, North America, and Asia.
Phil Verity, UK senior partner said: ‘Our growth has been sustainable and provides an excellent foundation for the next three years. Looking ahead, we will continue to invest in our business to achieve further long-term sustainable growth.’
Report by Pat Sweet