During the year Mazars grew revenue by £5.7m (3%), reporting revenue of £204.6m, up from £189.9m for the previous year. Over the 12-month period to 31 August 2020, the firm increased headcount by 4% through continued investment, and ended the year with a strengthened balance sheet and reduced net borrowings of £13m.

With an August financial year end, these results encompass the full extent of the government’s primary lockdown measures, the economic uncertainty at the outset of the pandemic, and a firm-wide shift to remote working which occurred almost exactly at the half-year point.

In terms of the revenue breakdown, the strongest service line was audit and assurance, up 12.2% year on year at £78.8m [2019: £71.6m], taxation and financial planning also grew to £44.6m [2019: £42.6m], financial advisory, accounting and outsourcing was up at £64.5m [2019: £62.5m] while consulting and actuarial revenues were hit, declining nearly 25% to £16.7m from £22.2m.

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