EY reports UK revenue of £2.41b and 5% growth in Scotland

Mark Harvey
Mark Harvey

EY has increased revenue by 2.7% in the UK and by 5% in Scotland during the financial year ended 30 June 2018. This raises total UK fee income from £2.35b to £2.41b with a five year compound annual growth rate of 7%.

EY grew its business to more than 14,500 people across 23 offices in the UK, including 1,000 people in Scotland, and a network of 150 countries and 260,000 people around the world.

During the year the firm added two new partners and recruited 67 university graduates and 16 school leavers on EY’s Business Apprenticeship Programme, offering young people an alternative to university.

Ranked as one of the ‘Best Companies to Work For’ in Scotland, by The Sunday Times in the first Scotland and regional lists celebrating employee engagement.

Mark Harvey, EY Senior Partner, Scotland, said: “For the tenth successive year our practice in Scotland has recorded yet another year of growth and this is largely due to our continued investment in our people who live in Scotland and work with Scottish clients. Having this presence of talented advisors in the market has allowed us to enhance our relationships, knowledge and expertise to the benefit of our clients.

“The positive financial performance has been supported by the efforts of our transactions team by consistently delivering on deals for clients with an increasing number from the mid-market space in addition to big corporates. Work on high profile deals such as the disposals of Simon Howie’s Mermaid Panels and Shore Laminates to Wilsonart, QTS Group to Renew and Forth Ports to PSP consortium or the acquisition of ESCO by Weir Group demonstrate the value of long term relationships and expertise of our transactions team in Scotland.

“The ambition of achieving long term growth will be helped by having a strong leadership team which is invariably more diverse. In Scotland our current partner group has 41% female representation and includes those from industry or with international experience all of which brings valuable and varied insight.

“In Scotland EY successfully blends its global capabilities with its local presence, highlighted by our investment in the new high technology centre – wavespace. This collaborative environment situated in our new Edinburgh office allows us to connect Scottish businesses to their counterparts in San Francisco, Shanghai and 20 similar centres around the world. Our capabilities in this area have also been strengthened by the number of EY tech specialists rising to 100.”

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