Raymond Doherty 14 Dec 2016 09:54am

BDO's global revenues up 8%

Mid-tier firm BDO has announced an increase in global revenues of 8% this financial year

It has recorded a combined global income of $7.6bn (£6bn) for the year ended 30 September 2016.

The growth is on the back of several mergers and a strong performance by both its Chinese and US businesses.

The firm’s global CEO, Martin van Roekel, hinted at further acquisition activity in a bid to keep up with competition. The firm was involved in more than 30 strategic mergers this year.

“The concurrent challenges of increasing costs, a shrinking talent pool, the need to invest and to manage regulatory demands mean that many firms and networks outside the largest six are having to consider mergers and acquisitions in order to survive.

“At BDO, we recognise that further mid-tier consolidation is inevitable – and we have planned for it,” said van Roekel.

The mid-tier company's international network has also expanded from 154 to 158 countries and territories while its global headcount has increased by more than 5% to 67,731 people working out of 1,401 offices.

BDO is the world’s fifth largest firm but is still someway short of the Big Four in revenue terms. Yesterday KPMG International - the smallest of the Big Four – posted combined global revenues of $25.42bn.