REVENUES CREPT up for international network Nexia, increasing 3% to $2.9bn (£1.8bn).
Nexia operates through a number of firms in the UK, including Smith & Williamson, Saffery Champness and Scrutton Bland.
The network said that had grown its global presence, with firms in Mongolia, Bangladesh, Egypt, Poland, Bulgaria, Uganda, the Bahamas and Saudi Arabia joining the network. During 2103 these firms saw a 4% rise in staff, based in 604 offices. “These results reflect the network’s continued success in implementing its strategy of recruiting high-quality member firms from around the world,” it said in a statement.
However, Nexia revealed that 2013 saw its largest share of fee income from North America ($1.41bn). Europe represented $1.16bn, Asia-Pacific £250.5m, Latin America $47.55m and Africa & the Middle East $43.6m.
The vast majority of the income growth was organic, a Nexia spokesman told Accountancy Age.
Kevin Arnold, CEO of Nexia International, said: “These results reflect the success of our growth strategy which is to recruit high-quality firms in key and emerging markets, together with the delivery of several innovative initiatives designed to benefit our member firms.
“Our impressive fee income combined with the number of enquiries we receive from firms around the world wishing to join the network is clear evidence that Nexia International continues to go from strength to strength.”
Most firms set up ‘emergency’ Brexit task forces within hours of the ‘leave’ result announcement, but how are they responding now?
Manufacturer DMG Steelworkers has been sold out of administration in a pre-pack deal by insolvency and restructuring firm CVR Global
Lee De’ath and Richard Toone, partners at CVR Global, were appointed joint-administrators of Lexden Centre (Oxford) Limited, trading as Colchester English Study Centre (CESC), on 29 June 2016
Grant Thornton has appointed Andy Morgan as its new head of corporate finance advisory, replacing Ali Sharifi