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December 22, 2009

Mazars increases global revenue

Mazars’ consolidated global revenue grew 6 percent to €774 million ($1.17 billion) in the year to 31 August 2009, bucking a trend that has seen most global accounting organisations report drops in fee income. In US dollar terms, this represented almost a 5 percent rise from its 2008 revenues.

Mazars had offices in 50 countries across five continents and a workforce of more than 11,300 professional staff at the end of their most recent financial year.

Mazars president Patrick de Cambourg told the International Accounting Bulletin that revenue across Western Europe was stable, Central European firms experienced about 10 percent growth and emerging economies in Asia-Pacific, Africa, Middle East and Latin America grew by 20 percent on average.

He noted the firm had invested heavily in emerging economies. In the past four years, Mazars has grown its number of professionals in emerging economies from 10-15 percent of the firm to more than 40 percent.

Mazars’ UK firm has reported a revenue drop of 3 percent to £101 million ($168 million), which was partly attributed to the sale of a small, non-core office.

In the UK, Mazars has 105 partners and more than 1,100 staff.

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