Raymond Doherty 18 Dec 2017 04:24pm

RSM's profits increase by 15%

RSM UK Group LLP saw its revenue increase 9% to £319m for its financial year ending 31 March 2017

The mid-tier firm’s profits rose by 15% to £49m as it recorded growth across most service lines.

Partner and staff numbers rose by 4% to almost 3,500 while remuneration increased by 11% to £202m.

Consulting, human resources and legal services performed best this year with a revenue jump of 46% to almost £16m.

In addition, tax and advisory grew by 8.6% to £138m, audit and assurance by 4.8% to £77m, restructuring advisory by 9.6% to £39m, risk assurance grew by 14.6% to £25m and corporate finance by just 1% to £24m.

RSM International announced a global rebrand in October 2015, with its more than 110 member firms adopting the name worldwide.

Prior to the rebrand, RSM UK was known as Baker Tilly. The firm officially joined the RSM International network in 2014, after it purchased RSM Tenon out of administration in 2013. The merger saw the firm’s workforce increase to 3,500 employees, as well as creating a joint fee income of more than £300m.

Laurence Longe, RSM’s CEO said the results “very clearly show the commercial benefit of the major investment that has been made in first reshaping and then rebranding the firm following the absorption of the former Tenon business.”

In September, the firm added 288 new trainees to its roster, to work across 30 of its UK offices. The new intake took the total number of employees to over 3,600.