News
30 Jan 2014 04:32pm

Consultancy saves the day for BTI

Baker Tilly International has announced annual revenues for the year to 30 June 2013 up 3%

The overall figure – $3.4bn (£2.06bn) – represents the combined revenues of BTI’s 161 independent member firms in 137 countries, and means that the accounting and business advisory network maintains its ranking as the eight largest in the world.

Consultancy was the star performer of the services lines, with revenues up by 26% to $0.85bn. Audit flatlined at $1.23bn while taxation and accountancy shrank to $0.84bn (down 3%) and $0.46bn (down 13%) respectively.

Regionally, it was Europe, the Middle East and Africa that put the brakes on revenue growth. Revenues remained flat at $1.21bn.

Latin America turned in the best performance with revenues of $0.07bn, up 7%, followed by North America with $1.45bn (up 4%) and Asia Pacific with $0.65bn (up 3%).

Commenting on the results, BTI CEO and president Geoff Barnes said, “While the economic recovery remains unpredictable, our members have responded to the changing needs of our clients.

“Across all regions we have seen growth of 26% on consultancy services provided by member firms, This increase is reflected in our clients seeking a more holistic approach to the to the services we provide them.”

The firm added that while all revenue was reported in US dollars, problems with the dollar exchange rate meant that in local currency terms growth in 2013 was actually higher than it seems.

Last year, the network also reported overall revenues up by 3%.

Julia Irvine

 

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