Ambitious plans for year ahead
Johnston Carmichael reaps reward from investment
Sandy Manson: ‘trading robustly’
Johnston Carmichael, Scotland’s largest independent firm of chartered accountants and business advisers, has achieved a 4% growth in turnover after generating revenues of £45.5m in the financial year ended 31 May.
The firm, which has more than 750 staff and partners across 11 locations, saw revenues across the Group grow from £43.7m to £45.5m, with net profit before members’ remuneration declining from £12.2m to £11.8m.
The last year also saw Johnston Carmichael Wealth, the firm’s wealth advisory business, achieve a 7% increase in turnover, seeing growth in revenues from £4.35m to £4.67m.
Chief Executive Sandy Manson said: “We’re encouraged that the firm continues to perform well despite challenges in the marketplace following the downturn in the oil and gas industry.
“Our diversity in sectors, business lines and geographical locations has enabled us to trade robustly and to continue investing in all parts of our business with confidence.
“In the year ahead, we will continue to build an ever-stronger platform from which to grow our business in a sustainable way.
“This will involve further expanding our range of services and embracing leading edge technologies as we renew and improve our core processes. It will also involve providing our people with a range of exciting career opportunities through supporting their professional and personal development.”
The business has invested substantially in technologies to deliver its services, including the use of data analytics in audit work and cloud technology in its SME-focused offering.
It also continues to grow its international work through its membership of PKF – a family of legally independent member firms operating in 150 countries – hosting a major conference at the end of last year in Edinburgh on international tax.
Mr Manson added: “Despite the challenges of Brexit, market volatility and investment requirements, we remain very positive and excited about the prospects for our people and the business.
“Our ambition remains firmly focused on growing our existing position of being Scotland’s largest independent firm.”