Biggest income since conversion
Record growth at Martin Aitken & Co as Airlie signs off
Top team: Ewen Dyer, Gavin Curr, Duncan MacCaig, Adrienne Airlie
Accountancy practice and business adviser Martin Aitken & Co has recorded its biggest increase in turnover since the partnership converted to a limited company in 2013.
The business said a 17% surge in income to £6 million for the year ended 31 December was down to the investments made in key service areas, lateral hires and the increasing application of cloud technologies.
Adrienne Airlie, who was senior partner of the partnership and became chief executive when the firm converted to a limited company in 2013, stood down at the end of December. She will continue to lead the financial services arm and remain a director in the audit and accountancy business, focusing on the charity sector.
Ewen Dyer, managing director, said:“We have taken what we have always done well and made it better by building on our strong business and financial advisory skills base and by integrating new, more efficient technologies into our service delivery processes.
“I’m delighted to report that we have grown consistently in all areas of the business with strong performances specifically in our corporate finance, tax and cloud accounting and advisory areas.
“Our profession is adapting to new cloud based and AI technologies, changing patterns of demand and meeting the challenges and aspirations of a new breed of owner-manager and company director, as we see the millennial and generation X leaders taking over the reins at many of our clients’ businesses.
“Adrienne has prepared the businesses well for these changes as many of the investment decisions and the leadership required to see them through came during her tenure as chief executive. The growth we have achieved is testament to her vision and leadership and the commitment of the board to make the changes happen in our business.”
Staff headcount in the firm has grown by 35% to more than 100 in the last five years since the firm converted to a limited company. Ms Airlie commented: “Over the last five years my job has been to steer the ship and to act as counsel as many of the operational decisions have been taken by my fellow directors at MACO and Ian Finch at Martin Aitken Financial Services (MAFS).
“I’m looking forward to continuing to support Ian and the team at MAFS and also continuing my role with MACO’s charity audit, accounting and governance team.”
During the last 18 months two Renfrewshire based practices, Cheetham & Co and Stranville John joined Martin Aitken, taking the firms acquisitions count to six since 2005.
This was on the back of a number of senior accounting, tax and corporate finance lateral hires joining over the past three years. More recently Gavin Curr and Duncan MacCaig, who both joined the firm as trainees in 2011 and 2014 respectively, were promoted to the role of associate directors as the firm prepares for further expansion in its core accounting and SME business advisory areas.