BDO USA saw a whopping 26 percent spike in annual revenue for the fiscal year ended June 30, 2015, growing to $1.05 billion from $833 million last year.
All of BDO’s business lines contributed to growth, particularly in the consulting and advisory practice, which experienced a 51.4 percent growth in revenue. The firm's tax practice also saw a large growth rate of 29.9 percent, while the assurance practice grew a healthy 17.5 percent.
The consulting and advisory business represents 16 percent of BDO’s revenues, while tax represents 32 percent and assurance makes up 52 percent of BDO’s revenue mix.
“I want to congratulate our partners and our valued staff on helping the firm achieve revenue growth in excess of 20 percent for the second consecutive year,” said BDO USA CEO Wayne Berson in a statement. “Once again, the increase has been fueled in equal measures by organic growth (+13.1 percent) and our ongoing expansion strategy (+12.9 percent). Equally important, our success is being driven across business lines, with each practice achieving impressive double-digit growth. Moving forward, we anticipate building on our success as both public and private entities are attracted to our service offerings and our industry focused approach.”
BDO USA has done 13 mergers and acquisitions since Berson took the helm in 2012, most recently Cross, Fernandez & Riley last week (see BDO USA Merges in Cross, Fernandez & Riley).
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