North East accountancy company scaling up to deliver five year growth plan

A North East accountancy company has moved to a new site as part of its plan for £1.5m of growth.

Murray and Lamb, which was established in 1998, has moved from Medomsley Road in Consett to a larger site on the nearby Hounsgill industrial estate, which will provide parking facilities for both staff and clients.

It has also recently acquired Watson Associates, an accountancy practice based on the Team Valley Trading Estate.

The acquisition is part of Murray and Lamb’s five year growth plan and the company expects turnover to increase from £1m to £2.5m by the end of 2024. The company is also set to acquire a further business before the end of October.

The growth plan will see Murray and Lamb double in size and open up opportunities for local employment.

Stephen Murray, founding partner of Murray and Lamb, commented: “Our five year plan is to grow the practice with a combination of acquisition, business development, and organic growth, while at the same time continuing our main goal, which is to provide high levels of client service.”

Murray and Lamb has also been on a recruitment drive, appointing a new director and shareholder, head of operations in the Consett Office and senior accountants.

As well as increasing staff numbers to 50, the company’s recruitment will provide clients with core business functions including accounting services, payroll and taxation services, as well as other specialist services.

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