BDO sees accelerated growth in Guernsey

11 December 2014

Global expansion for the BDO network is mirrored by strong local performance in 2014 for Guernsey firm BDO Limited.

Accountancy and business advisory firm BDO Limited has announced a year of steady growth in 2014 as its UK parent company and the BDO International network report accelerated growth and profitability for the last financial year.

For Guernsey, new client wins during the financial year ended June 2014 exceeded £500k of recurring fees, with revenues increasing by 35%.

The Guernsey firm's managing director Richard Searle said BDO Limited had seen a strong performance in all areas of its business, from audit and advisory to tax and financial services, while client service levels remained exceptionally high.

"We are part of a national and international success story," said Mr Searle. "We have seen a steady expansion of our services here in Guernsey during 2014 with our revenues showing an increase of 35% compared with the previous year.

"Furthermore, during the calendar year to date, we have added over 200 new clients to our portfolio. This growth demonstrates the strength of our large base locally and clients' confidence in our continuing ability to deliver exceptional client service to them.

Mr Searle highlighted the successful merger with PKF, nationally and locally, as the most significant single event of 2013/14 for BDO Limited. Combined with the firm's ongoing recruitment programme, the merger has seen staff numbers rise to more than 70 at its Guernsey headquarters.

Mr Searle said: "It is thanks to the hard work and professionalism of all our staff that this intensive period of transition has not distracted us from continuing to give our clients the level of service they have come to expect from BDO Limited over the years.

"We have emerged stronger and even more focused as we continue to invest in the key areas of financial services, tax and advisory services. Our programme of investment in new technologies also continues apace."

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