Crowe Horwath International sees 9% revenue growth
Crowe Horwath International said Thursday it achieved total global gross revenues of $3.7 billion in the year ending Dec. 31, 2016, or 9 percent growth at constant exchange rates.
The Asia Pacific and Latin America regions led growth for Crowe’s international firm network in developing markets. The Asia Pacific region showed 19 percent growth, while Latin America had 16 percent growth. In developed markets, the North America region saw an 8 percent increase in revenues. Africa, Middle East and Europe regions each grew 2 percent.
In terms of services, assurance services led the way with 45 percent of total revenue across Crowe Horwath’s network, at $1.66 billion. Advisory services accounted for 30 percent of total revenue, or $1.11 billion. Tax services made up 25 percent of the network’s total revenue, at $927 million.
The network continued to extend its geographic reach, adding 18 new member firms last year in Central Europe and Germany.
As of the end of last year, Crowe Horwath member firms operated in 129 countries. Global workforce numbers increased 6 percent to 35,327 people, including more than 160 new partners across all the member firms in the network.
“Crowe Horwath International’s strong performance in 2016—marking the network’s sixth consecutive year of revenue growth—was fueled by growth across all of our lines of business and in all of our regions,” said Crowe Horwath International CEO Kevin McGrath in a statement. “I’m incredibly proud of what we've been able to achieve as a network this year. I’m most proud of all the hard work our now more than 35,000 people put in day in and day out to deliver smart decisions that deliver lasting value for clients, each other and the communities where we live and work.”