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December 23, 2013

Grant Thornton International revenues grow 8.1%

Grant Thornton International’s revenues reached $4.5bn for the year ending 30 September 2013, as the network grew 8.1%.

During the same period, Grant Thornton International’s head count grew by 7.6% to 38, 543 people.

Grant Thornton International’s advisory was its fastest growing service line, growing 20.2% to $1.3bn, followed by outsourcing, which grew 18.8%, to $258m.

Assurance services, its largest revenue stream, grew by 3.3% to $1.96bn, while tax services saw the slowest growth, 1.8%, to $925m.

By region, Grant Thornton International’s North American revenues grew by 5.9% to $1.87bn, and the network’s European revenues grew 12.4% to $1.78bn.

The Asia Pacific region saw the slowest growth, 2.1% to $567m, while the Middle East, Grant Thornton International’s smallest region by revenue, grew 19.9% to $37m.

Latin American revenues grew 16.1% to $169, and in Africa the network grew by 23.6% to $99m.

Part of this growth was the result of M&A, including nine new member firms in Bangladesh, Belgium, Dominican Republic, Eastern Caribbean, Ethiopia, Kyrgyzstan, Libya, Nigeria and Tunisia.

In the 2013 IAB World Survey, Grant Thornton International was ranked the sixth largest Network, behind BDO. BDO has already reported 7.3% international growth to $6.45bn for 2013.

Related article

IAB World Survey 2013: A profession adapting to a changing world

Related Link

Grant Thornton

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