L-R: Olivier Maréchal, Marc Schmitz, Alain Kinsch, Bernard Lhoest, Patricia Gudiño Jonas, Brice Lecoustey; Credit: EY Luxembourg

EY Luxembourg has recorded a turnover of €197 million for the fiscal year ending 30 June 2017, an increase of 10.6% compared to the previous year.

This financial year, the multinational professional services firm EY Luxembourg experienced a 10.6% higher revenue growth than the previous year, with a turnover of €197 million compared to €178 million.

Alain Kinsch, Country Managing Partner of EY Luxembourg, commented: "We are proud to see double-digit growth, 10.6% compared to the previous year, the strongest growth over the last four years and a very good performance in a business environment that is still so complex”.

More specifically, Kinsch referenced how the company’s audit department in Luxembourg achieved a 10.2% growth, notably as a result of new audit mandates, allowing the firm to remain the second largest of its kind in the Grand Duchy for auditing.

The tax department also posted growth of 9.3%, whilst the consulting department recorded high levels of growth, ie 16.7% for the fiscal year that has just passed. Kinsch added that: “In Luxembourg, we continued to make strategic investments in order to respond to strong demand from our customers for the improvement of their performance, the implementation of computer and digital solutions or for their operational transformation.”

Finally, EY Luxembourg has launched a new Transaction Advisory Practice to advise clients on mergers and acquisitions, valuation and business modelling. During the last three years, 20 qualified professionals specialised in this field have joined the department. This new service is also accredited with having contributed to the firm’s growth.