UK profit dips at BDO as partner numbers hit record
Mid-market accountancy giant BDO has seen its profit slip, with the firm blaming challenging market conditions and a significant increase in partner headcount for the decline.
BDO UK delivered stable revenues of just £1bn over 2025, a slight dip after becoming a £1bn-turnover firm last year.
Profit per equity partner (PEP) fell over 13 per cent from £681,000 to £589,000, while operating profit fell seven per cent to £210m.
Revenue at BDO’s tax division rose nearly four per cent. Consulting, risk and outsourcing revenue grew five per cent. However, its audit department revenue fell by nearly per cent, and deal revenue also declined by four per cent.
Mark Shaw, managing partner at BDO UK, said: “The well-documented economic headwinds across the UK have resulted in a challenging year for the profession as a whole. Growth rates have slowed, and profitability has come under pressure.”
BDO partners hit record high
The firm said it has been looking to increase its overall number of working partners as part of its growth plan.
BDO UK welcomed 690 trainees during the period, up from 675 the previous year, across its apprenticeship, graduate and industrial placement schemes. It also promoted 2,440 people, including 36 new partners, bringing the total to 501 – its highest to date.
In addition to upping hiring, the firm has invested in new property as it is set to move to a new London HQ in the West End in late 2027, alongside moves to new offices in Manchester and Guildford, and major refits in other regional locations.
Last month, the firm also revealed its planned merger with BDO Ireland. The deal will create an enlarged organisation with revenues of circa £1.1bn and employ 8,500 people.
“Looking ahead, I see a business that is in the right place to unlock opportunities for our market heartland,” Shaw added.