Grant Thornton U.K. Sticks With Strategy Despite Poor Results

Grant Thornton U.K. LLP won’t change its strategy despite announcing weak 2018 results and ousting its CEO after a partners’ revolt.

“2017/18 was a year when we continued to evolve our business with significant changes in our leadership, our structure and how we face the market,” Dave Dunckley, Grant Thornton’s CEO, said in a statement. “This reshaping has inevitably impacted our year-end performance.

Grant Thornton’s U.K. profits tumbled 7 percent in the fiscal year to June 2018 to 70 million pounds ($88 million) and revenues 2 percent to 491 million pounds, the firm announced on Dec. 7.

It ...