Top 75 Firms survey 2018: risk of profit meltdown

In a record year for firms as fee income surges towards £15bn, profitability is being squeezed and smaller firms are at risk. Philip Smith analyses the latest financial results, profitability, growth areas and considers the key trends to watch

Despite the uncertainty pervading the UK economy, the accountancy sector has delivered another year of growth. But behind the top line numbers lies a nagging worry that profits are under pressure even as the firms continue to cash in on demand for accounting, tax and consulting services.

The Accountancy Top 75 2018 survey shows that fee income, for so long the measure of success in the profession, continues its bull run of seven consecutive years of growth since 2011.

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