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Net revenue climbed to £724 million, up from £654m the previous year, marking double-digit growth. However, operating profit rose only slightly to £147m from £146m, with the firm citing transaction costs related to a its landmark Cinven investment as a primary factor.

The Cinven deal, now fully approved by regulators, establishes Grant Thornton as the UK’s largest professional services firm to accept external equity investment.

Alongside these results, the firm highlighted a significant £39m investment in exceptional staff bonuses. Future plans include launching an Employee Benefit Trust, which will offer equity units to non-partner staff, a unique initiative among major UK firms.

CEO Malcolm Gomersall hailed 2024 as a “remarkable year”. He said: “The momentum we’ve generated over the past few years positions us strongly for 2025 and beyond as we open a new chapter in our firm’s history with our partnership with Cinven.”

He added: “Our partners’ unanimous decision to make our partnership model fit for the future through external equity investment from Cinven shows how excited we are for the evolution of the business model and is testament to the alignment of partners and our people in their commitment to deliver growth in both the short and long term.”