The global business advisory and accounting firm Grant Thornton International Ltd announced in late December that its global revenues grew to a record $7.5 billion for the financial year ended September 30, 2023. This is an increase of 10.9% in adjusted constant currency terms, and follows the 13.7% growth achieved in the prior fiscal year.
The network reported double-digit growth across all major service lines (assurance, tax and advisory), led by assurance services up 14.5%, reinforcing the network’s strong commitment to the multidisciplinary model. Regional performance was also strong, led by Europe, Middle East, Asia (EMEA) up 12.8%.
The firm grew its global staffing from 68,517 to 72,858 over the last year.
Key highlights include:
- Among the network’s larger firms, particularly strong growth was reported in constant currency by India (+29.4%), Ireland (+24.5%), Australia (+17.0%), Japan (+15.6%), Canada LLP (+15.3%), Canada RCGT (+14.3%), Germany (+14.3%) and France (+11.1%)
- Key strategic growth market firms saw growth of 11.4%. Strong performance in these key markets was led by Nigeria (+78.0%), followed by India (+29.4%), Thailand (+23.1%), Japan (+15.6%), Germany (+14.3%), Vietnam (+12.6%), Brazil (+12.4%) and Indonesia (+10.9%).
- Substantial growth was also achieved in many other firms, including UAE (+47.8%), Poland (+23.9%), Greece (+21.9%), Luxembourg (+20.4%), and Spain (+16.0%).
- Regionally, strong growth was led by EMEA (up 12.8% to USD2.8bn), followed by Asia Pacific (up 11.2% to USD1.3bn), and the Americas (up 9.3%* to USD3.3bn).
- Double-digit growth across all major service lines was led by assurance (up 14.5% to USD3.2bn), followed by advisory (up 11.8%* to USD2.7bn), and tax (up 10.8% to USD1.6bn), reinforcing the value of the network’s multidisciplinary model.
- Overall, 106 member firms reported growth in revenues this year, with almost 60% reporting double digit growth.
“These results underscore the network’s exceptional ability to achieve sustainable growth despite ongoing challenges across the diverse markets in which our member firms operate,” said Peter Bodin, CEO Grant Thornton International Ltd. “Grant Thornton member firms have proved their resilience over recent years in the face of geo-political, economic and regulatory disruption and these results show how successfully our member firms are helping clients navigate this volatility.”
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Tags: Firm Management
