ACCOUNTANCY business EY has highlighted its continued investment in its Scottish practice as it unveiled small increases in turnover and profits in the last financial year.

The international firm, which has offices in Aberdeen, Edinburgh, Glasgow and Inverness, saw UK fee income grow by 1.5 per cent over the 12 months to the end of June, up from £2.41 billion to £2.45bn. At the same time partner profits were up by 1%, rising from £472m to £477m.

Though the business did not provide a breakdown of its figures by UK region, its Scotland managing partner Ally Scott said its Scottish operation “continues to perform well and has delivered strong results despite ongoing economic uncertainty across the UK marketplace”.

“EY’s global network, combined with our local knowledge and insight, is a successful formula for us in Scotland and we are continuing to invest in our business to meet the needs of our clients,” he said.

The firm’s UK chairman Steve Varley said he is optimistic about the EY’s future, despite the challenges that lie ahead over the next year.

“The economic environment over the next 12 months is likely to be challenging, as the UK economy adjusts to life outside the EU, but I’m confident that we have a resilient and flexible UK business that is well placed to adapt to a slower growth economy and is also able to draw on the strengths of EY’s global network,” he said.