Joel Muckett 5 Dec 2017 03:54pm

Kreston Reeves revenue up 47% since last year

Kreston Reeves has reported growth across the firm as it begins to invest for the future

The financial advisers posted revenues of £33.78m (up 47% from 2016) and profits of £8.7m (up 20%) for the year ending 31 May 2017, its first full financial year since merging with Sussex-based Spofforths.

“In merging with Spofforths in Sussex in 2016, we have added greater geographical reach and more importantly, new areas of expertise,” said Kreston Reeves managing partner Nigel Fright.

Fright added that the firm was building strong foundations for the future through investments, including a merger with London-based Munslows earlier this year.

“We are greatly encouraged by the growth in revenues, particularly from international businesses seeking to invest and do business in the UK,” he said.

In September, Kreston Reeves hired 32 students and trainees after becoming one of three accountancy firms in Britain to attain the ‘Employee Training Provider’ status for its graduate and non-graduate training programme.

Last month, the firm updated its visual and brand identity to reflect its evolving culture and corporate values.

Currently, Kreston Reeves is the 24 largest firm in the UK. The firm has 52 partners and over 550 staff across offices based in London, Kent and Sussex.