PRESS RELEASE

May 5 2008
BPU looks to further growth after record results

BPU has seen a 70% rise in fee income as the firm moves into the next phase of its ambitious expansion plan.

The South Wales chartered accountants have refashioned the practice in the last three years. This has involved making key appointments, moving to new premises at Cardiff Gate, merging with a complementary firm, and undertaking a total rebranding exercise.

The next phase of the firm’s growth plans will see a recruitment drive underpinning  expanded corporate finance and taxation departments, and the ability to offer clients a wider range of specialised services.

In the last two years, the corporate finance department has been involved in deals worth £40 million, and the firm sees this as an important part of their development. “The sector continues to develop, both in the number of deals and in their size, and we see this as an important growth area,” said Director Peter Umbleja.

Mr Umbleja says BPU is well on its way to the firm’s stated aim of becoming the leading independent in the South Wales market. “We have made enormous strides in the last three years,” he said.  “The rise of 70% in fee income over three years is, we believe, sustainable, as we launch the next phase of our practice development.”

The firm provides a wide range of structured, discrete, services to Welsh owner-managed SME’s, partnerships, sole traders and personal clients, as well as Not for Profit organisations and pension schemes.

Clients come from a range of sectors, with construction figuring strongly. The Welsh media is also important -  BPU acts for several television production companies, as well as high profile personalities and presenters.

Origins of the firm date back to the 19th century, making it one of the oldest in Wales of this size. “While the practice has changed, our traditionally strong relationships with clients have remained the same, and this has been the key to our success,” he added. “It is a pleasure to have played an important role in helping them thrive and grow.”

The merger with a practice in Llantwit Major has been an important step forward. Further development of this office, bringing in value-added services, is planned for the future.

Staff levels have increased by 50% to 40 in three years, and further recruitment is now ahead. “We will be expanding our corporate finance team, taking on new specialists in taxation and recruiting in our core disciplines,” said Mr Umbleja.

Taxation, too, is a vital area for the firm. “Regulations become ever more complex year on year, and businesses who put their heads in the sand can find themselves in a lot of trouble, and often expense. We keep clients up to date with all changes, and alert them to problems at the earliest opportunity,” added Mr Umbleja.

With roots firmly in South Wales business, BPU boasts leading Welsh companies and institutions as clients. 

“We pride ourselves on our high level of personal service and understanding clients as individuals. While the services we offer become ever more technical in their nature and BPU grows in size, we will never lose sight of the personal touch,” added Mr Umbleja.

Ends