EY secures strong growth in North of England as UK revenues hit record levels
EY revealed it had achieved a second year of double-digit revenue growth, with UK revenues up 16 per cent and fee income increasing to £3.76bn from £3.23bn the previous year.
EY said this performance has been underpinned by long term investments in people, audit quality and technology. Distributable profits before tax remained broadly flat at £659m, EY said.
Hywel Ball, EY’s UK Chair, commented: “These impressive results mark a third year of market leading growth in the UK. We’ve achieved record UK revenues whilst also continuing to invest for the future.
“The long-term investments we’ve made in the business have underpinned our growth and position us well to continue this trajectory. This year alone, we’ve appointed a further 267 new partners, adding over 10 per cent to our total UK partner population, whilst also making a $1.4bn investment globally in AI.
“Client demand has remained strong, particularly in areas such as technology consulting, tax and audit. Companies have been looking to our deep expertise as they transform their businesses in response to the economic and regulatory environment and development of rapidly emerging technologies.”
EY appointed 19 new partners across the North of England and hired more than 130 graduates and apprentices. EY’s Manchester office welcomed 69 students – the second-highest number in any of EY’s offices outside of London in 2023 – in addition to 34 students in Leeds, 26 in Newcastle and eight in Liverpool. This month, EY also promoted more than 200 staff across its offices in Manchester, Leeds, Newcastle and Liverpool.
Stephen Church, EY’s UK Market Leader for the North, said: “I’m incredibly proud of our teams in the North of England. We have achieved another year of strong growth, whilst also continuing to make significant investments across our regional business.
“We have strengthened our firm with the appointment of 19 new partners in the North and have added capabilities through an acquisition and firmwide investments in new technologies. I’m also particularly proud of our societal contribution. We have created employment opportunities for over 130 young people through our student recruitment programme and have supported future talent development across the region through our work with the EY Foundation.”