Grant Thornton reports $1.92B revenue for FY2020
Grant Thornton announced Monday revenues of $1.92 billion for the fiscal year ended July 31, 2020, representing a 1 percent year-over-year increase.
The Top Eight Firm reported the uptick even as the latter months of its year marked the beginning of the coronavirus pandemic, which the firm quickly responded to by instituting a work-from-home policy and offering programs to assist with challenges like childcare and meal delivery.
“Our success in generating a modest increase in revenue — despite the COVID-19 pandemic and related economic recession — means we can continue to invest in the services, innovation and talent required to drive growth for our firm and our clients,” said Grant Thornton CEO Brad Preber in a statement. “We continue to make business and operational decisions that keep our clients’ needs front and center, while also helping our professionals during this challenging time.”
In November 2019, Preber was named CEO following his role of interim CEO since June. This year, GT appointed several other senior leaders, industry heads and office managing partners across the country.
Though modest, Grant Thornton’s revenue increase follows those of other big firms like Deloitte, PwC, Ernst & Young and BDO that have recently reported higher revenues despite the pandemic (see story).
In 2020, GT introduced various solutions and partnerships, including a pandemic risk assessment tool and blockchain platform. In August, the firm announced an expansion to its diversity and inclusion efforts (see story).