Fee income up 24% at Mazars Ireland

ACCOUNTANCY FIRM Mazars Ireland increased its fee income by 24 per cent to €26 million in the year to August 31st, 2007, according to new figures.

The firm said continued growth in its business would lead to a further 50 staff being recruited over the next 12 months, bringing its Irish workforce to 300. The company has offices in Dublin, Belfast and Galway.

Mazars Ireland managing partner Joe Carr said: "The Irish accountancy sector will see consolidation in the next few years and Mazars fully intends to be at the forefront of merger and acquisition opportunities as they arise.

"We are positive that our growth strategy will continue to be successful in 2008 and we are well positioned to grow our share of the market in the year ahead."

Mazars Group, which employs more than 8,000 people in 42 countries, posted an annual turnover of €657 million, up 19 per cent on the previous year. It completed six mergers during 2006-7.

Fee incomes at accountancy firms passed the €1 billion mark for the first time in 2006, according to Finance Magazine's annual survey of the market.

The survey found that the "Big Four" - PricewaterhouseCoopers, KPMG, Deloitte and Ernst & Young - increased market share to 75.2 per cent from 73.5 per cent.

© 2008 The Irish Times

This article appears in the print edition of the Irish Times