In 2018, Grant Thornton International has recorded the highest rate of growth in the last six years with combined global revenues amounting to $5.45 billion for the financial year ended 30 September 2018, driven by broad-based growth of 9.4% across the network. At the same time, global headcount has grown by 6.3% to 52,686 people in 131 countries.
These results reflect a deliberate focus by Grant Thornton on key strategic markets aimed at putting the network as the ‘next generation’ professional services firm. In particular, the results were driven by an above average growth in Europe of 7.7% with over half of the European member firms growing revenues by more than 10%. A number of transformational mergers across the network, predominantly in Japan and South Africa, combined with strong organic growth across Asia Pacific and Africa, have also contributed, delivering stand out growth in both regions of 18.7% and 54.7% respectively.
Grant Thornton International has also registered a sharp growth across its tax (14.8%) and advisory (10.4%) service lines across the network.
The network brought in seven new member firms – Austria, Cameroon, Dutch Caribbean, Lebanon, Malawi, Mongolia and South Africa as well as the creation of an EU Services Joint Venture.
Peter Bodin, CEO Grant Thornton International Ltd, says ‘Our success this year is the result of a deliberate strategic focus on our core mid-market client base, and our key strategic growth markets where we want to be successful. Being clear on where we need to develop our capabilities, and focusing on quality in those core markets, has underpinned this performance. Despite growing uncertainty in many markets this year from political upheaval and rising trade tensions, trading conditions have remained robust for clients around the world. Many have taken advantage of these favourable conditions to invest for the long-term and prepare for the uncertain conditions that may lay ahead.’
‘This is why we’ve been investing too. Investing in our network, in our technology, and in the development of our people and future leaders to ensure we are where clients need us to be and that we’re ready to deliver quality advice and support in a rapidly changing market. I cannot wait to see what the firm can achieve in 2019’.