BDO International has reported revenues of $6.01bn for the year ended 30 September 2012, up 14% year-on-year.
In Euros, BDO International earned €4.6bn, up 6% on the previous year. The reported revenues include exclusive members in the US and as well as Spanish firms’ alliances.
BDO International said the fastest growing region for the firm was Asia-Pacific with fee income up 48%. Driving this increase were acquisitions made in Japan and Australia, where BDO took over PKF’s offices in Brisbane, Melbourne and New South Wales (see IAB’s most recent Australia survey).
This month BDO International announced it is to merge with PKF UK and parts of PKF China, moves which are expected to boost revenues for the current fiscal year.
Middle East revenues increased by 32% with good growth in Bahrain, Qatar, Saudi Arabia and the UAE.
"In North America and the Caribbean, a double digit increase was strongly influenced by a very positive growth in the US, assisted by the appointment of new firms in Puerto Rico and Barbados, while in Latin America, the rise in overall revenues was led by the Dominican Republic whose merger with the former RSM firm in May more than doubled the firm’s size. Colombia and Peru also demonstrated impressive growth," a spokesperson for BDO International said.
European revenues increased by 5% and the Sub-Saharan Africa region reported an 8% increase.
Audit and accounting services amounted to 61% of all fees earned by BDO International. The contribution of the advisory services line expanded to 21% of all fees earned this year, while tax services brought in 18% of the revenue pie.
BDO International increased its head count by 12% to 54,933 people and its number of offices worldwide to 1,204, up 8%.
Martin van Roekel, the network’s chief executive, said: "The continuing positive results clearly shown right across BDO testify to the demanding client service standards that all our firms must meet".
Referring to the successive mergers seen across BDO this year, he said:"The alignments realised between us and other mid-tier networks this year and last effectively demonstrate our mutual desire to lead, from a position of strength, the inevitable and long-overdue consolidation in our segment of the accounting profession. I am confident that we can expect not only a continued strengthening of our network performance in the months to come, but also of our worldwide presence".
