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Global mid-tier accounting and consulting network BDO has reported a strong revenue increase following a plentiful year of mergers and acquisitions.
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BDO delivers significant revenue growth
11 December 2015
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The firm reported a 13 per cent increase in revenue, with a total combined fee income for the year ended 30 September 2015 of US$7.3 (AU$10.02) billion.
BDO also revealed that the firm is now represented in 154 territories, with a 6 per cent rise in its global number of offices to 1,408.
The firm has attributed the growth to its global expansion strategy, which focused on a large number of mergers, subsequently resulting in growth of 22 per cent in the Americas, and 10 per cent within the Asia-Pacific region.
Martin van Roekel, global CEO of BDO, identified BDO Australia as a key player in the global growth of the firm.
“BDO Australia is a critical component of our global growth strategy for the next five years and I am very confident we have the leadership team in place to deliver,” he said.
Mr van Roekel praised the Sydney and Melbourne BDO teams, and their increasing reputation in the transfer pricing space.
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He also outlined the challenges of the mid-tier accountancy market, particularly as global clients continue to demand international expertise.
“The concurrent challenges of increasing costs, a shrinking talent pool, the need to invest and to manage regulation demands mean that most of the firms and networks outside the six largest have very small market shares and are starting to assess the sustainability of their margins,” Mr van Roekel said.
“Having to consider a merger or acquisition in order to survive is a very real eventuality,” he said.
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