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Grant Thornton achieved double-digit growth despite challenging year
Grant Thornton achieved double-digit growth despite challenging year
KUALA LUMPUR - 6 January 2022: Grant Thornton International Ltd recently announced its revenues grew from USD5.8 billion to a record USD6.6 billion for the financial year ended 30 September 2021 (up 14.3%). Over half of Grant Thornton member firms globally achieved double-digit growth in constant currency terms* during a challenging year.
Peter Bodin, CEO Grant Thornton International Ltd, says: “By staying true to our values, putting our people first, and supporting our clients and communities, together with our investments in common technology platforms, we have performed when it counted the most. I’m immensely proud of the network’s collective success, thanks to the efforts of our people during what has been the most difficult time in a generation for our profession and society.
"As the world continues to evolve and adapt, so does Grant Thornton with the launch this year of a new five-year network strategy that will take us through to 2025. Our network strategy is built around our purpose to care for our people, clients, and communities and to help create a sustainable impact in the world. It has a laser focus on growing and protecting our international business. Everything we do will be aligned around this goal and making sure we have the core infrastructure to deliver it. We will focus on building strategic capabilities, managing risk, quality and building our international culture. Our new Go Beyond brand was also launched recently to support the network strategy so that we can deliver a different experience to our people and clients, grow international business, and attract the right talent around the world.
“With sustainability as one of the biggest external forces for business, we were invited this year to join the Glasgow Financial Alliance for Net Zero to ensure all our financial decisions take climate change into account. I am very proud to have signed this commitment on behalf of our network.
“While these results are encouraging, the macro-economic outlook remains uncertain with increased risks from disrupted trade conditions, supply chains and concerns about the pandemic. Nevertheless, I believe Grant Thornton has proved its resilience and we are extremely well-positioned to respond to market opportunities and to the increasing demands for change in our profession.”
Dato NK Jasani, Country Managing Partner of Grant Thornton Malaysia PLT comments:
The year 2021 was especially difficult for Malaysia and many other countries within the ASEAN region. We were coping with the rising COVID-19 cases, reinstatement of numerous control orders, lockdowns, borders and economic sector closures, political transition, and recently, devastating floods.
In an ever-changing and uncertain environment, our firm continues to remain agile, resilient and perform with excellence in all of our audit, tax and advisory services lines. With this focus, we have experienced 9% growth for FY2021.
This positive growth is a result of our unwavering focus, combined efforts, continuous investment in technology to improve our service deliverance despite the challenging lockdowns and travel restrictions. With our people’s safety in mind, we also have ensured that all of our staff are fully vaccinated while taking continued precautions, adhering to the SOPs in our firm.
As the country’s economy recovers from the pandemic, we look forward to more growth particularly in IPOs, large public listed companies audit, transfer pricing, international tax and restructuring services.
Moving forward, the Go Beyond brand sets the tone perfectly for us – it is about doing things better than others or better than have been done in the past. It is a promise that Grant Thornton makes across the world so that our people, clients and communities can positively shape tomorrow. We look forward to Going Beyond with our people and our clients in the year 2022.
Summary:
- Regionally, EMEA saw the highest growth up 19.1% to USD2.5bn, followed by Asia Pacific up 15.8% to USD1.2bn, and the Americas up 9.7% to USD2.9bn.
- Strong growth across all service lines included assurance up 16.1% to USD2.7bn followed by advisory services up 15.5% to USD2.4bn, and tax up 8.6% to USD1.4bn, demonstrating the true multidisciplinary nature of the network.
- Key strategic growth market firms saw growth of 14.9%. These include China, Japan, India, Germany, Italy, Brazil, and Mexico together with Nigeria and a cohort of five ASEAN countries.
- Overall headcount grew from 58,000 to 62,000 reflecting the network’s ongoing investment in its people and its commitment to building a diverse and inclusive global culture.
- These results represent year-on-year growth of 10.1% in constant currency terms*.
*Constant currency is calculated by applying 2020 exchange rates to 2021 revenues.
Further enquiries, please contact:
Charmane Koh
Senior Manager, Corporate Affairs
Grant Thornton Malaysia PLT
T: +603 2692 4022
M: +017 3384563