Grant Thornton International announced that revenues for its worldwide member firms were up 12 percent, to $2.8 billion, for the fiscal year ending Sept. 30.
It’s the fourth consecutive year of double-digit growth for the international membership organization. Grant Thornton also noted that growth in many of its member firms exceeded the 12-percent level in local currencies, but the value of the dollar has depressed figures when converted into U.S. dollars.
Also for the fourth consecutive year, the biggest overall growth in U.S. dollars was in the United States, where Grant Thornton LLP grew its revenues by 19 percent, to $987 million.
Other parts of the network that saw the greatest year-over-year revenue growth were the United Kingdom ($491 million, up 4 percent), Canada ($351 million, up 12 percent), Germany ($148 million, up 6 percent) and France ($108 million).
Emerging markets that the network said performed well included: Asia Pacific (up 21 percent), Central and Eastern Europe (up 19 percent), Brazil (up 78 percent), India (up 61 percent) and Russia (up 50 percent). Grant Thornton did not break out revenues for those areas.
Member firm total personnel and the number of partners worldwide grew by 11 percent (to 24,500), and 6 percent (to 2,200), respectively.
As of Jan.1, a new global leadership board and restructured management team for Grant Thornton International will take office. The organization will focus on four global market segments and include:
- Privately Held Business Services, led by Alex MacBeath;
- Tax Services, led by Ian Evans;
- Assurance Services, led by Ken Sharp; and,
- Specialist Services, led by Scott Barnes.
New chief operating officer Mike Starr, head of network development Gabriel Azedo and head of marketing Jon Geldart have also been appointed.
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