Julia Irvine 21 Dec 2018 01:12pm

Kingston Smith’s profits up 13.4%

Top 20 firm Kingston Smith saw its revenue increase by 13.4% to £51.7m over the year to end April 2018, with profits rising at the same rate

Around 10% of the increase came from organic growth, including the acquisition of boutique theatre accounting firm, Anderson & Pennington.

Kingston Smith managing partner Maureen Penfold said the year had been a very strong one for the firm which experienced growth across all its core service lines.

“The figures reflect the significant investment made over the past few years in talent and technology to service our clients,” she said.

“We have prioritised making investments in technology to empower our people, ensure we continue to build a successful and sustainable platform and, most importantly, continue to help us save our clients time and money, to enable them to remain focused on their goals.”

Kingston Smith has invested in a new virtual desktop infrastructure and a cloud-based communication tool, which together provide a platform for its new agile working policy. This enables the firm’s employees to work more flexibly and deliver client services consistently wherever they are located.

The firm has also invested in partnerships with artificial intelligence solutions to strengthen its audit analytics offering.

“The continual development of such services will enable Kingston Smith to add more value to clients, which in turn will help future-proof the firm in the face of new challenges to the profession,” Penfold added.

The firm has also expanded its audit, assurance and tax service lines through investment in recruitment and technology.