RSM UK reports strong revenue rise of 9.5% to nearly £600m as transatlantic ambitions take shape
Today, leading audit, tax and consulting firm RSM UK announces a near 10% (£51m) increase in UK annual revenues to a record £594m for its financial year ending 31 March 2025.
The results mark over five years of consistent year-on-year growth following last year’s near 12% revenue increase and mark another sizeable step towards its drive to creating a scalable multinational platform.
The company grew its total partner profits by 16% to £185m. Revenue per partner grew from £1.47m last year to £1.64m this year. Profits per equity partner were £821,000 on average, up from £708,000 in the prior year, reflecting the firm’s growing appetite and ability to compete for the best talent in the market.
This strong momentum, fuelled by investment in its people and increased productivity, not only supports its drive towards a first-of-its-kind transatlantic partnership but continues its path to becoming first choice advisers to middle market leaders globally.
During a year when many peers markedly reduced staff numbers, RSM UK not only maintained its total headcount at 5,313 (2024: 5,340) but it continued to invest heavily in them as part of its “Grow our own” strategy – a sustained plan to strengthen the firm from within its own ranks.
As a result, some 20% of its people received promotions, with commensurate and significant changes in remuneration. This acceleration in reward included a 28% rise in discretionary bonuses (2024: 4%). Nearly 40 people were promoted to partner or director (2024: 40).
RSM continued to invest in talent training and development. The firm supported 2,160 of its people to study for professional qualifications (2024: 1,863), and 18% of new roles were filled by internal talent (2024: 15%).
Significant investment was made in RSM’s digital first approach – an area recognised as key to propelling the business forward. This involved heavy investment in platforms and partnerships that allow the firm to put insight and compelling data at the fingertips of clients.
The firm’s audit and assurance service line delivered another impressive year with a near 14% increase in revenues to £188m (2024: £165m). This was achieved whilst continuing to invest in audit quality, training and service to clients.
Tax services grew by over 13% from £161m the prior year to £183m this year, following a strategic shift towards a greater volume of advisory work alongside its core offering to clients.
The consulting business (including business transformation, deal services, finance function support, forensic and investigation services, restructuring, and risk and governance) reported on a healthy financial performance with revenue increasing 3% to £223m.
Beyond the financial performance RSM UK remains committed to making a difference via its chosen communities. The RSM UK Foundation and the firm donated over £1m to charities throughout the UK (2024: £1m) and provided 8,914 (2024: 8,731) volunteering hours for local charities and community groups. The firm also achieved a 7.5% reduction on its emissions compared to the 3.2% reduction last year.
Rob Donaldson, CEO for RSM UK said: “It’s been another exceptional year for RSM UK. These results reflect the marked and consistent growth of the firm in what continues to be a very tough market. Despite a stagnating economy and elevated inflation, we have continued to achieve strong growth in revenue and profitability which has, in turn, allowed substantial investment in the business.
“For five years we’ve been laying the groundwork for long-term success by evolving our ownership and organisational structure, and by putting more money back into the business than ever before. We’ve invested heavily in our people, our digital strategy and in our global ambitions through our investment in RSM Ireland and, more recently, our transatlantic partnership which opens a new chapter.
“Having agreed to create a new transatlantic partnership with RSM in the United States and Canada ready for 2026, we’ve already seen new opportunities and tangible client wins that our firms could not have achieved independently. We believe this is only the beginning, as clients increasingly see the benefits from our market-leading offerings on both sides of the Atlantic. This is also giving our talent new pathways for collaboration and cross-border engagements, paving the way for global learning that will enrich our people and strengthen our culture.
“On behalf of the board, leadership team and all partners in the business, I want to say thank you to all those who contributed so fully to supporting our clients, and this fantastic business. The best is yet to come.”