Mazars’ revenues up 7.8pc

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Mazars, the international audit, tax and advisory firm, yesterday reported revenues of Euro 1.9 billion in its 2019/2020 financial year, representing a 7.8% increase (excluding forex impact of -0.3%) compared to the previous financial year.

The increase in fee income comprises strong organic growth (5.9%), complemented by positive external growth (1.8%). Commenting, Hervé Hélias, CEO and Chairman of Mazars Group says: “For people, businesses and society, 2020 has been a year like no other.

Amid a global pandemic, with our focus on keeping our people safe and continuing to deliver top quality services to our clients, Mazars has shown remarkable resilience achieving 7.8% growth, most of it organic.” Despite the crisis, Mazars continued to invest and plan for its future.

Over 1,100 partners recently voted to approve the new strategic plan, ‘One24’, a title recognising the uniqueness of Mazars’ united partnership model.

The plan articulates the group’s roadmap for the next four years, capitalising on Mazars’ strengths and distinctive attributes: quality services, cross-border operational integration, international consistency, dedication and care for clients and teams.

Looking ahead Hélias says: “The pandemic and related economic crisis certainly bring a challenging period, but we are looking beyond that, investing in our organisation and in our people to deliver what our clients need and what they expect from us.” To support the One24 programme, Mazars said it has reviewed and reinforced its governance structure, which comprises the Group Executive Board (GEB) and Group Governance Council (GGC).

The new governance team was elected during the firm’s virtual partner conference in December 2020. Of the 23 elected members in the GEB and GGC,10 are female: this means 44% of Mazars’ governance positions are held by women, representing strong gender diversity in the firm’s leadership.