UK profits fall at BDO as partner numbers hit record

Tuesday 02 December 2025 13.48

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Mid-market accounting giant BDO has seen profits decline, and the company blamed challenging market conditions and a significant increase in partner headcount for the decline.

BDO UK generated stable revenues of just £1 billion in 2025, a slight decline after becoming a company with a turnover of £1 billion last year.

Profit per equity partner (PEP) fell more than 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 percent. Consulting, risk and outsourcing revenues grew five percent. However, the audit department’s revenue fell by nearly one percent, and transaction revenue also fell by four percent.

Mark Shaw, Managing Partner at BDO UK, said: “The well-documented economic headwinds in the UK have resulted in a challenging year for the profession as a whole. Growth rates have slowed, and profitability is under pressure.”

BDO Partners hit record high

The company said it is working to increase its overall number of partners as part of its growth plans.

BDO UK welcomed 690 trainees during the period, up from 675 in the previous year, through its apprenticeship, postgraduate and industrial placement schemes. They also promoted 2,440 people, including 36 new partners, bringing the total to 501 – which is the highest number to date.

As well as increasing recruitment, the company has invested in new property as it moves to new London headquarters in the West End at the end of 2027, alongside moves to new offices in Manchester and Guildford, and major improvements at other regional locations.

Last month, the company also revealed its merger plans with BDO Ireland. The deal will create a larger organization with revenues of around £1.1 billion and employing 8,500 people.

“Going forward, I see the business being well positioned to unlock opportunities for our key markets,” added Shaw.