Baker Tilly International Reports 5% Growth to US$3.2bn
27 Jan 2012
Baker Tilly International today reported its financial
performance for the 12-months ending June 2011 with global combined
revenues rising by 5% to US$3.2bn.
"We have delivered robust results in what is a difficult global
environment" commented Geoff Barnes, CEO & President of Baker
Tilly International. "Our combination of international scale, depth
of local expertise and a commitment to client care is proving to be
a compelling proposition.
"There is no doubt that our results accurately mirror the
economic environment in which our clients are operating, reflecting
a two tier recovery with different regions moving at different
speeds. The combined revenues of our member firms in Asia Pacific
leapt 40%, and in Latin America 24%, driven by strong regional
growth, while the difficulties of the Eurozone and the sluggish US
economy were reflected in the modest results in these regions.
"Drivers for this growth come from a number of areas, with our
member firms continuing to invest in new offices to increase reach,
expanding into new areas through mergers & acquisitions and
grow non-audit service lines such as consultancy where we saw an
increase of 21% last year.
"We are seeing some strong trends globally in the challenges
that our clients face: for example privately held businesses tend
to be more dependent on debt than equity, and therefore are finding
access to credit more of a problem. Many are owner managed and, as
their founders move closer to retirement, are facing a range of
issues around succession planning. It is exactly areas like these
where our clients are increasingly turning to our member firms for
advice and guidance."
|Europe, Middle East & Africa
Service line breakdown:
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