Investment in BDO 'pays off'

News Article - 24 May 2012
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Accountancy firm BDO Stoy Hayward has announced a ten per cent rise in revenue during 2006-07, bringing its total turnover to £317 million.

Managing partner of the company Jeremy Newman confirmed that it would continue to reinvest to increase profit.

However, he told Accountancy Age that he was frustrated by the developments the business had made into the FTSE 350 audit market.

"We are winning more non-audit work than audit work," he said, adding: "We are doing more tenders, but sometimes I wonder if we are just invited to tender as the obligatory mid-tier firm."

Jeff Jones, lead partner of the Manchester BDO office, has announced the company will continue to concentrate on leisure, retail and property sectors, reports the Manchester Evening News.

He also warned that the credit crunch will have a tightening effect on the market causing merger and acquisition deals to slow in the future.

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