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October 16, 2014

Grant Thornton US revenue at all time high

By Isabella Grotto

Grant Thornton US saw its revenue hit an all time high of $1.354bn in the year to 31 July.

Fee income increased 6% on last year’s results, marking a slight acceleration on the 5% growth rate registered between 2013 and 2012.

In particular, the firm’s advisory service line grew 15.1% on 2013 figures and tax increased 3.8%. Conversely, audit lagged behind at 0.4%, a performance attributed by the firm to high levels of competition in the market.

In addition, Grant Thornton US’s energy, professional services and construction, real estate and hospitality practices all registered double-digit growth.

Overall, the increase reflected organic growth across the firm’s service lines and was boosted by the acquisition of Oracle Solutions in September last year. Grant Thornton US expects organic growth to continue to be determining for future growth, as well as the sustained development of its advisory services.

Grant Thornton US chief executive officer Stephen Chipman heralded the results as a "milestone" for the firm.

"Now more than ever in our 90-year history, Grant Thornton possesses significant capabilities to continue to advance our strategy in the marketplace for long-term success," he added.


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