Double Digit Growth At Moore Stephens

14 Aug 2017 | 02.32 pm

Double Digit Growth At Moore Stephens

Brexit finance flight to benefit Cork, says Ned Murphy

14 Aug 2017 | 02.32 pm

Accountancy practice Moore Stephens is seeing a very significant increase in funding requirements across all sectors as the Cork economy continues to improve, according to partner Ned Murphy (pictured).

“We have experienced growth in all areas and in particular in our corporate finance team,” he adds. “Our dedicated banking and restructuring team has been involved in a number of large-scale projects involving refinancing of businesses out of private equity funds, as well as funding companies in their expansion and growth. We currently have a number of significant projects across sectors such as Hospitality, Medical Devices and Nursing Homes and expect this to continue for the foreseeable future

“The Cork economy is continuing to recover and projects such as the Capital on Grand Parade, Albert Quay and John Cleary’s new plans for development of the South Mall are proof of the confidence in the local economy. The recent decision of Ely Lilly to continue their major expansion plans is further seen as a significant endorsement by the pharmaceuticals sector in Cork as a destination.

Murphy adds that Moore Stephens’ fee income has seen double-digit growth for the second year in a row. “We are recruiting top class talent at all levels, from students to senior personnel up to director level, as we seek to develop further niche offerings to our clients,” he adds.

On the Brexit issue, Murphy’s view is that this ongoing development offers many opportunities. “There is a growing belief amongst business leaders that Cork should be in a position to capitalise on the relocation of companies in the financial services sector and in attracting further FDI projects generally,” says Murphy.

In Murphy’s view, Cork Airport is a much underutilised resource, while the Dunkettle roundabout remains the one obstacle to a first class motorway link between Cork and Dublin.

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