Grant Thornton LLP has achieved an all-time high annual revenue mark for the U.S. member firm of Grant Thornton International, with $1.274 billion in revenue generated in fiscal year 2013, up 5 percent from the previous year.
Revenue growth increased across various service lines at the firm. Advisory services continued to lead the way, advancing 9 percent from the fiscal year 2012. Audit services, in which competition remains high, grew 2 percent while tax services increased 6 percent in annual revenue. The firm’s financial services, energy and health care practices led from an industry perspective, achieving double-digit growth for the year.
“Attaining record revenues in a still tepid economic environment is a testament to our long-term strategy of focusing on dynamic, mid-sized clients that are poised for growth,” said Grant Thornton CEO Stephen Chipman in a statement. “We continue to invest in talent who make a marked difference in the quality and breadth and depth of our services to clients in our chosen markets.”
The firm also said Wednesday that it resolved several long-standing legal matters during the year. In addition, it made several notable investments, including the opening of a shared service center in Bangalore, India, and the recent acquisition of the Oracle Solutions business unit of MarketSphere LLC (see Grant Thornton Buys Oracle Solutions Business Unit from MarketSphere). The acquisition expands the firm’s Technology Solutions practice, which is part of the firm’s Business Advisory Services. “Providing our clients with a more comprehensive suite of innovative advisory services is a key firm objective,” said Chipman.
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