Growth of new service lines pushes profit to £19.6m as turnover rises to £75.5m
Activity since April “on a par with previous year” despite COVID-19 impact on the economy
Gerald Eve has reported its best-ever financial performance, with both turnover and profit hitting record levels for the year ended 5th April 2020. Turnover for 2019/20 was £75.5 million, an increase of 10% on the previous year, while profits rose to £19.6 million.
The record performance follows the firm’s continued strategy of expanding capabilities and service lines, both through investment in new talent and organic growth. As well as a strong performance in 2019/20, this diversification has led to greater resilience of revenues since the arrival of the COVID-19 pandemic; activity since April has been on a par with the previous year.
Simon Prichard, senior partner at Gerald Eve, said:
“To post record figures for turnover and profit is obviously pleasing, but they need to be put in the context of the very different world we are now operating in. The firm’s strategy has been centred around diversifying our range of services – in short, better aligning ourselves with our clients’ needs – and as such it has been gratifying to see this strong performance continue into the new financial year.
“As we look ahead and shape ourselves to address the new economic realities both we and our clients face, it is clear that further investment in talent and technology will be a driver of our future success. We have long sought to place clients at the centre of our business, and it is an approach that has established us as a genuinely different voice in the marketplace.”