BDO International posts 11% revenue growth

The BDO International network has posted global revenues of €3.6bn (£3.3bn)
for the year to 30 September, the firm has announced.

‘Total combined fee income for all BDO member firms, including the exclusive
members of the US and Spanish Member Firms’ Alliances, amounts to $5.145bn, an
increase of 9% in the last year. The total is €3.649bn, an increase of 11% on
2007,’ BDO’s global coordination team said today.

Jeremy Newman, who took up the position of CEO of BDO International in
October this year, said that BDO International would be able to ride out the
economic storm, which has already seen the leading firms making redundancies.

The current financial and economic difficulties will be a challenge for all
businesses,’ said Newman.

‘But I am confident that BDO International will continue to develop because
of its unrelenting focus on providing the highest quality advice and service to
its clients, delivered by high quality people in all our member firms.’

Fluctuations in exchange rates have significantly affected the results, BDO’s
global coordination team said in a statement today.

In the UK, BDO Stoy Hayward’s revenues increased by 13% in sterling, but fell
by 1% when expressed in euros.

During the year, the network welcomed new member Firms in France, Croatia and
India and completed mergers in a further 12 countries, including Australia,
Belgium, Denmark, Malaysia and Poland.

The Latin American region showed the greatest growth at 22%, while strong
performance across all other regions has resulted in increases similar to that
for the network as a whole.

Related reading