Latest News | 27 May 2021
Mazars breaks £200m revenue barrier for first time
International tax, audit and advisory firm Mazars has broken through the £200 million revenue barrier for the first time, according to its latest financial results.
The firm, which has offices across the East Midlands, said that during the 2019/20 financial year, revenues grew by £5.7 million (three per cent).
This resulted in the company passing the £200 million revenue threshold.
The company, which has about 130 partners and more than 2,250 employees, also increased its headcount by four per cent thanks to continued investment.
Mazars ended the year with a strengthened balance sheet and reduced net borrowings of £13 million.
The results for the financial year ending 31 August, 2020, include the impact of lockdown measures and the economic uncertainty caused by the coronavirus pandemic.
The results were also achieved as the firm shifted to remote working.
Phil Verity, UK senior partner at Mazars, said: “This has been a year of unique and unexpected challenges.
“Our people have demonstrated unwavering resilience, spirit and determination, which has enabled us to deliver for, and support our clients against a difficult backdrop.
“The year was not about financial performance. We are instead most proud of how our team has risen to every challenge, worked together so positively, and supported our clients throughout.
“Despite the many challenges, we have taken the opportunity to plan ahead by launching our four-year strategy, enabling us to emerge from the pandemic with real positivity and momentum.”
