Grant Thornton reported global revenue growth of 10.4 percent in U.S. dollars, to a record $4.2 billion, for the year ended Sept. 20, 2012. Growth in local currency terms was even higher, at 13.2 percent.
Growth was strongest in the advisory service line, at 18 percent, accounting for $1.1 billion in revenue, with assurance coming second, at 11 percent and $1.9 billion in revenue, and tax coming third, growing 9 percent to $900 million in revenue.
The Asia-Pacific region saw particularly strong growth of 33 percent, due in part to "significant M&A activity in Australia and China," according to a firm statement. Growth in Latin America came in at 25 percent, with Brazil standing out with 38 percent growth. GTI even grew 8 percent in Europe, despite the economic difficulties there.
In addition to expansion by M&A at a number of member firms, GTI also added 12 new member firms in regions around the world, including several firms in Africa. Its workforce also grew strongly, by more than 14 percent, to almost 36,000 people in 124 countries.
"I am confident in saying it was a very good year and something we will build upon," said Grant Thornton International CEO Ed Nusbaum in a statement. "Our continued ambition going into 2013 is to be recognized as the leading provider of high-quality, professional services to dynamic organizations, helping them unlock their potential for growth."
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access