Baker Tilly International Announces Global Revenues Increase to US$3.4bn
22 Jan 2018
Baker Tilly International, one of the world’s leading global networks of independent accounting and business advisory firms, has today announced worldwide revenues of US$3.4bn for the year ended 31 December 2017. This represents year-over-year growth of 6.4% at constant exchange rates. Global headcount has increased by 10.2%, with 33,600 people now operating out of 796 offices in 147 territories worldwide.
Ted Verkade, CEO and president of Baker Tilly International, said: "2017 was another strong year for the Baker Tilly International network. As our member firms continue to grow through strong organic growth and strategic expansion, our focus remains resolutely on building long-term relationships with our clients. Our ongoing investment in technology, infrastructure and talent ensures we are positioned to continue to deliver superior client service to an increasing international client base".
Financial results for the year ending 31 December 2017 in summary:
- The Baker Tilly International network recorded growth of 6.4% at constant exchange rates, with total combined member firm revenues of US$3.4bn.
- The number of people in the Baker Tilly International network globally grew by 10.2% to 33,600 people in 147 territories.
- Each of Baker Tilly International’s service lines grew. Audit and assurance services accounted for approximately 36% of total revenues (US$1.2bn, +7.5%); advisory services 25% (US$857m, +8%); tax services 25% (US$849m, +3%); and accounting services accounted for approximately 14% of total revenues (US$494m, +2%).
- North America remains the network’s largest market with revenues of US$1.6bn, followed by Europe at US$987m.
- Despite economic challenges is some key markets, Asia Pacific was the network’s fastest growing region: combined revenues grew 13%, driven by China; total staff numbers across the region increased 22%.
- The network saw, amongst others, a series of acquisitions in the US and key strategic partnerships forming in Europe, augmenting existing client services and expertise.
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- Each Baker Tilly International member firm is an independent entity. Members do not report revenues on a consolidated basis. Statistics presented represent the combined figures of independent member firms.
- Because of rounding, numbers may not tally.
- Percentage growths have been rounded.
- For the purposes of reporting, Latin America includes Mexico and the Caribbean. North America is the United States and Canada.