EY highlights importance of Yorkshire as total fee income rises to £2.45bn

Suzanne Robinson: 'Headcount in the region increased by nearly 30 per cent.'
Suzanne Robinson: 'Headcount in the region increased by nearly 30 per cent.'
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Professional services giant EY has seen its fee income grow 1.5 per cent in the financial year ending June 30, 2019, from £2.41bn to £2.45bn.

Distributable profits before tax increased from £472m the previous year to £477m.

However, average distributable profit per partner decreased from £693,000 last year to £679,000.

EY said it enjoyed growth both here in Yorkshire as well as nationally. Its Yorkshire practice comprises of offices in Leeds and Hull. The firm has a 500-strong team across both offices.

Suzanne Robinson, managing partner for Yorkshire, said: “It’s been another good year for EY and one that has seen growth both nationally and across the Yorkshire and Humber region. Headcount in the region increased by nearly 30 per cent.”

Despite a challenging business environment, revenues in transaction advisory services and tax grew strongly by 9 per cent and 8 per cent respectively, while advisory and assurance revenues declined on previous years by 3 per cent and 5 per cent.

Steve Varley, UK chairman of EY, said: “We are very clear about the crucial role that our work plays in building and sustaining trust and confidence in the capital markets and helping to improve the attractiveness of the UK as a centre for business.

“That’s why it’s important that we have continued to invest in the right places, despite the uncertain economic environment.

“This year alone we’ve hired over 2,600 people, with more than a third of all roles in our regional business, invested around £31m in training and development, and have made significant investments in our tech capabilities.”

EY in Yorkshire also welcomed a total of 31 graduates and apprentices. The new cohort, comprised of 21 graduates and 10 apprentices, is split between Leeds and Hull,