Grant Thornton LLP said its fiscal year 2014 revenue was the highest in the firm’s history.
The U.S. member firm of Grant Thornton International Ltd., said it had reached an all-time high revenue for its fiscal year ending July 31 by generating $1.354 billion in revenue, up 6.2 percent year-over-year.
The revenue increase reflected organic growth across the firm’s service lines, along with the contributions of the Oracle Solutions business, which GT acquired at the beginning of the 2014 fiscal year.
The acquisition led Grant Thornton’s Advisory Services to continued growth, advancing 15.1 percent from the previous year. Tax Services grew by 3.8 percent while Audit Services, in which the competitive environment remains high, grew by 0.4 percent. The firm’s Energy; Professional Services; and Construction, Real Estate and Hospitality practices all achieved double-digit growth for the year.
“This milestone is a testament to our exceptional people and their demonstrated quality work and dedication to extraordinary client service — driving value for the dynamic organizations we serve as well as for our firm,” said Grant Thornton CEO Stephen Chipman in a statement. “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.”
The firm said it continues to invest in talent. Looking ahead, Grant Thornton anticipates growth, primarily from organic means and strategic hires, including the continued development of its Advisory Services practice, industry knowledge and experience, and the realization of improved operational efficiencies.
