Mid-tier accounting firm BDO has reported modest growth of 2% in its UK business, with revenues reaching £391m for the year end, compared with a 27% jump last year following the merger with PKF, with the insolvency business taking a hit and pulling down overall performance

This year’s UK fee income is slightly ahead of the £384m the firm reported in last year’s annual results, the first to fully reflect the merger the previous year with PKF.

Profits per equity partner (PEP) for 2015 are in line with last year’s figure, holding steady at £280,000. The 2014 PEP was £275,000, a 15% increase.

The strongest growth area for the firm was tax, where revenue increased by 20% to £118.8m (2014: up 21% to £99m).