Baker Tilly International reports 5% increase in global revenues
European, Middle Eastern and African revenues drop 3%, while other regions post strong growth
REVENUES at international accounting network Baker Tilly International have hit $3.6bn (£2.4bn), an increase of 5%.
The biggest increase in revenue came in Latin America, where a 15% leap saw fee income hit $87m, closely followed by a 14% rise in Asia to $752m. Growth in North America went up 6%, bringing in $1.5bn, while Europe, Middle East and Africa fell by 3%, generating $1.2bn.
In the UK, the network has gone through some upheaval after its eponyonously-named firm left to join RSM, but is still currently using its name.
MHA MacIntyre Hudson has since taken the vacant spot in the UK, is ranked 18th in the Accountancy Age Top 50+50, with revenues of £41.8m. It has 72 partners and 539 staff. MHA is a UK network of firms formed by MacIntyre Hudson alongside five other regional practices in 2010. The network now represents 177 partners and 1,500 staff, with revenues of $177m.
Baker Tilly International CEO and president Geoff Barnes (pictured) said: “To be recording our fourth consecutive year of revenue growth when the market remains as competitive and challenging as it does, and with the wider global recovery remaining subdued, is a result we are extremely proud of.
“It demonstrates our members’ focus on delivering consistent and sustainable growth. We recorded some really strong performances this past year in developing markets, including in Argentina, Colombia and Panama – and I see developing markets as a percentage of our total global revenues rising significantly in the coming years.”