As the nights get longer and we start to feel a bit of warmth in the air it is an apt time to reflect on the last financial year in HNH and look forward to the next.
The year ended March 2023 was one characterised by increasing economic and geopolitical headwinds, significant political change in GB and Scotland.
Across our service lines in FY23 (M&A, Transaction services, Taxation, FP&A, Restructuring, Forensics and Debt Advisory) we continue to focus, as we always have, on giving direct, honest advice to our clients with as much hands on support as we can bring to bear in whatever the project at hand is. The advisory climate has become more challenging in the last 6 months but during this period we have enabled many of our clients to complete successful transactions, restructures and gather better information and clarity within their own businesses in order to help them plan strategically for the years ahead. We are incredibly proud to be the adviser of choice to many NI and Scottish businesses, entrepreneurs and funders and we are delighted to be able to play our small role in their corporate journey.
Like many businesses we have been through our own changes. At the start of the year Craig and Richard branched out and set up Raven Capital and at the end of the year James and his team moved on to KPMG. We wish each of them well and have no doubt their skills and experience will be well utilised in their new roles.
It would appear as we commence FY24 we have seen the worst of interest rate rises in the UK, inflation appears to be settling and the M&A environment is picking up after a slower calendar year Q1. We are delighted to be starting the year with the appointment of new Company Shareholders and Directors – Rodney McCaughey, Derval Rooney, Neal Allen, Bruce Walker, Paul Gleghorne and Harry Linklater. During the year we have welcomed 3 new starts, have seen 4 promotions and we hope to have 2-3 new starts over the next couple of months with further plans for growth across NI, Scotland and further afield.
FY24 undoubtedly will have some challenges but at HNH we remain firmly committed to investing in our client relationships, our team and our systems and processes to provide the best service we can in an environment that is enjoyable to work in. We are excited about the challenges and opportunities that lie ahead.