BDO has posted a 16% increase in revenues to £935m for the FY2022/23, with significant growth across all three of its service lines of audit, tax and advisory.
During the year, BDO took on a further 500 new people across the UK, building a business of nearly 7,500 people in 17 regional offices.
The firm recruited 650 school leavers and graduates in the FY and entered into a new partnership with Teach First to help improve social mobility. This includes providing volunteer coaches for teachers, delivering workshops in classes and a charitable donation from the firm. BDO operating profits grew 5% to £198m. Average profit per equity partner (PEP) was down 6% to £609,000, reflecting it said on both the additional investments and increased partner numbers. As part of planned investments, BDO directed £120m back into the business – the single biggest additional annual investment in the firm’s 100-year history – with people, technology, innovation and future high-growth services at the centre of the firm’s investment strategy.
