Grant Thornton reports 19% growth, record revenues of 3.2 bln eur

Grant Thornton International, one of the world's leading organisations of independent assurance, tax and advisory firms, announced record combined global revenues of US$ 4.2 bln driven by 10.4% growth in US dollar terms (+18.8% in Euros, 3.2 bln) for the year ended 30 September 2012, thus leading the six largest global accounting names in reported revenue growth.
“It was a very good year and something we will build upon,” said ,” said Ed Nusbaum, CEO, Grant Thornton International Ltd. “Our continued ambition going into 2013 is to be recognised as the leading provider of high quality, professional services to dynamic organisations, helping them unlock their potential for growth.”
Grant Thornton’s workforce grew by more than 14% to 35,809 people in 118 countries. Its growth was strong across all key service lines, with assurance growing 11% to US$ 1.9 bln, tax growing 9% to US$ 0.9 bln and advisory growing 18% to US$1.1 bln.
The group’s Asia Pacific network reported revenue growth of 33% to US$ 579 mln, boosted by significant M&A activity in Australia and China. India reported strong organic growth of 25%.
Latin America reported revenue growth of 20% (26% in local currency), to US$ 146 mln. Brazil reported 38% growth. North America growth was 7% (8% in local currency), with revenues of US$ 1.77 bln.
European revenues grew 8% (13% in local currency) to US$ 1.58 bln, with Austria, Denmark, Germany, Greece and Poland, all reporting growth of 20% or more. Grant Thornton UK reported 13% growth. Middle East revenues increased 18% to US$ 30 mln.
As regards network growth, Grant Thornton welcomed 12 new member firms in Kenya, Belarus, the Baltics (Latvia, Lithuania, Estonia), Haiti, Paraguay, Gabon, Ivory Coast, Senegal, Ukraine and Togo. Additional member firm M&A expansion occurred in the US, China, Russia, France, Canada, Denmark, Japan, Italy, Mexico, Indonesia, Poland, Hong Kong, Portugal, Tajikistan, Colombia, UK, Australia and New Zealand.