Private equity backed Grant Thornton, the sixth largest accounting firm, reported 3.3% revenue growth to £787m as audit and tax fees more than offset decline in advisory work
Against a backdrop of flat or declining revenues across much of the market, Grant Thornton has capitalised on the influx of funds from its private equity backer, Cinven, implementing a £500m upgrade of IT infrastructure as part of a multi-year investment and paying a record bonus to staff as a result of the newly established employee benefit trust, a first for the accountancy sector.
Revenue for FY25 was £787.1m, up 4% from £759.0m year on year with underlying operating profit growth of 30% to £188.6m from £144.6m in FY24. Full year pre-tax profit was £32m under the new structure, and liability provisions have been reduced to £19.2m from £26.1m year on year.
The latest results are for the combined financial statements of the new entities created at the time of the PE deal, Grant Thornton UK LLP and Grant Thornton UK Advisory & Tax LLP for the year ended 31 December 2025.
