North America accounts for the biggest slice of revenue with $1.6bn, up 4% on last year
BAKER TILLY INTERNATIONAL has reported a 7% growth in fees for the 12-months ending June 2015 with global combined revenues hitting $3.8bn (£2.6bn).
North America accounted for the biggest slice of revenue at the world’s eighth biggest accountancy network with $1.6bn, up 4% on last year while Latin America amassed a 16% increase to hit $101m. Asia Pacific pulled in 13% more with $850m. EMEA pooled $1.3bn, up 7%.
Audit was the best performing service line, at $1.4bn, up 2%, followed by consultancy at $1bn, a 15% rise, with taxation earning the network a 7% rise at $943m.
Baker Tilly International CEO and president, Geoff Barnes, said: “This represents our strongest revenue growth since 2008. We have seen growth across all our four regions and all service lines. Mergers and acquisitions are an important part of our members’ growth plans and we have seen an unprecedented number of mergers over the past year.
“In addition to announcing mergers in the G20 economies of Russia, Australia, Germany, the US and the UK, we have also expanded our presence across Italy, the Caribbean and Africa. We will continue to see mergers between national firms continue as firms strive to reach critical mass and develop strategic aims that may not be achievable on their own”.
Baker Tilly International is currently represented by 165 independent member firms in 141 countries with 28,000 staff in 745 offices worldwide.
In 2014 the network lost its eponymous UK member firm to rival network RSM, replacing it with MHA MacIntyre Hudson.