FY21A results depict a year of continued strong organic and acquisitive revenue growth, with margins maintained despite a +30% rise in headcount. As FY21A's acquisitions annualise this year and new recruits' utilisation picks up, we see growth continuing at a strong, but more tempered pace given the current subdued market conditions, where UK insolvency appointments declined -26% over FY21A. Cash generation will materially improve this year given the majority of IPO liabilities have now been pai ....
