Bangkok--26 Dec--Grant Thornton
BANGKOK - Grant Thornton in Thailand today announced annual growth of 11% while Grant Thornton International Ltd. announced record combined global revenues of US$4.5 billion driven by 8.1% growth, leading the six largest global accounting organisations in reported revenue growth rate for a second consecutive year.
"While we are pleased to report strong growth results, our focus as a global organization remains unchanged in first providing high quality services to our clients and helping them unlock their potential for growth," said Ed Nusbaum, global CEO of Grant Thornton.
Grant Thornton in Thailand has also enjoyed a stellar year with revenue growth across all business lines. "Despite the slower economic growth than was predicted at the beginning of the year in Thailand, we have experienced strong growth of 11% in our business here," said Ian Pascoe, Managing Partner at Grant Thornton in Thailand. "This growth has come from a number of areas as we have seen a clear upward trend in interest in doing acquisitions in Thailand. This has led to solid growth in our Valuations business, and our Mergers and Acquisitions revenues. We have also been involved in largescale infrastructures projects particularly advising on the Concession Agreements, and have seen a very substantial increase in our tax work this year, nearly doubling in size in the last 12 months. One other emerging trend is more Thai companies seeking to build a presence in other AEC markets. As we have offices throughout the AEC markets including Myanmar we are able to manage the successful completion of these projects throughout the region."
Mr. Pascoe added, "We should expect to see higher GDP growth in 2014 than this year however as we predicted in late November, that would not be at the rates that the BOT had predicted in their October meeting. The trends outlined earlier will not only continue but will likely grow in size and scope and therefore we forecast another year of robust growth in 2014 for Grant Thornton in Thailand."
The global workforce grew by 7.6% to 38,543 people in 134 countries. A survey of more than 200,000 business and engineering students from 12 of the world's largest economies named Grant Thornton one of the top 50 most attractive global employers, placing 35th. The survey was conducted as part of the Universum Annual Student Survey. In placing in the top 50, Grant Thornton is "distinguished as an ideal employer in the professional services sector."
Eight new member firms joined in Bangladesh, Dominican Republic, Eastern Caribbean, Ethiopia, Kyrgystan, Libya, Nigeria and Tunisia. Thirty additional member firm M&A expansions occurred in South Africa, Canada, China, Hong Kong, Indonesia, Italy, Luxembourg, Netherlands, Norway Paraguay, Senegal, Taiwan, US, and the UK.