The firm, which observers expected to suffer following its failed merger attempt with Robson Rhodes in April, also reported an 11% rise in partner profits. The firm also announced the acquisition of Hect & Co, a firm based in Glasgow to add to other consolidation this year. Despite the failure of PKF's merger with Robson Rhodes, which fell apart following disagreements over international structure and strategy, the firm has continued to expand. While the deal was unsuccessful, managing partner Martin Goodchild refused to rule out future mergers. 'We will explore any opportunity that is there,' he said. Net profits rose by just under £300,000 but PKF chairman John Wosner attributed this apparent low return to 'continued investment' in staff which increased employment costs by some £6m. Goodchild added: 'We have achieved particularly strong growth in consultancy and other specialist services and are also regularly winning work in the small to medium plc marketplace and achieving success in a number of niche business areas.' Wosner said the firm had reiterated its commitment to strength by offering clients a flexible and responsive service which anticipates their changing needs. PKF has also focused on owner-managed businesses while developing niche areas such as charity clients.
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