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Mid-tier firm BDO has announced nearly 7 per cent annual growth in earnings, praising an organic growth strategy which it says has allowed the firm to increase market share without making any acquisitions.
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BDO announces 'organic' success
18 August 2015
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The firm announced 6.77 annual revenue growth for the 2015 financial year, increasing total income from $236 million in FY2014 to $252 million in the financial year recently ended.
BDO Australia chair Helen Argiris attributed BDO’s strong growth to the firm’s ability to be nimble and create value where it is needed.
“BDO’s strategy has given us the advantage to closely monitor client needs in our chosen markets and quickly build or reconfigure client service teams to deliver specialist advisory or new services around digital disruption, transfer pricing, forensics and risk," Ms Argiris said.
“This focus on advisory and better leveraging our corporate finance, consulting and risk assurance teams is part of our organic growth strategy and acknowledges a move away from the type of compliance services affected by automation.”
According to Ms Argiris, BDO has also strengthened its presence in Asia, leading to an increase in related work here in Australia.
“BDO’s China and Korea desks are generating strong returns, and several other partners with networks in Asia are developing a pipeline of related work, in collaboration with our international offices and our global strategy focused on winning international business,” she said.
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Ms Argiris added that the firm has plans to continue to invest in key areas in which it believes demand is likely to increase in the future.
“Moving forward, additional investment will be dedicated to key areas like forensic accounting, risk advisory, traditional management consulting and insolvency,” she said.
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