Combined Revenues Grow 6.2% - Partners and Staff up 8.9%

3 Feb 2017

Baker Tilly International’s combined revenues have grown 6.2% for the year ended December 2016, and the number of partners and staff is up 8.9%.

In calculating this year’s statistics, we have revised the definition of both our revenues and the number of member firms we report1. Below are our statistics for 2016 with comparative figures for 2015 calculated on the same basis.

  Growth in 2016

               Revenues US$m                Partners and staff
   Dec 2016  Dec 2015 [1] % Change  Dec 2016  Dec 2015 [1] % Change
North America 1,461 1,466 -0.3 8,011 8,031 -0.2
Latin America 110 99 11.1 2,415 2,207 9.4
Europe [2] 967 868 11.4 9,277 8,250 12.4
Middle East & Africa 90 83 8.4 1,677 1,638 2.4
Asia Pacific 607 531 14.3 9,110 7,860 15.9
Total 3,235 3,047 6.2 30,490 27,986 8.9

Our member firms in North America reported strong growth averaging 7.8%, with overall growth being impacted by the departure of two member firms. Growth across other regions was also strong, and for the first time in the history of our network we have more than 30,000 partners and staff. This is a great reflection of our members’ ongoing commitment to being recognised as employers of choice in their local markets.

Mergers and acquisitions (M&A) are an important part of our members’ growth plans and we have seen expansions in Canada, Australia, Kazakhstan, Singapore, the US and the UK. In addition to this M&A activity, we welcomed new firms to the network in Austria, Bolivia, Honduras, Ireland, Paraguay, Seychelles, Slovenia, Somalia and Tunisia. At 31 December 2016 our network was represented in 147 countries (2015: 142) by a total number of 126 member firms (2015: 128).

NOTES

  • Statistics presented represent the combined figures of independent member firms. 
  • [1] With regard to revenues, we now include only full member firms that were members of the network at the end of the reporting period. Local revenues have been converted into US Dollars using average exchange rates for the year, as opposed to constant exchange rates in prior years. With regard to the number of member firms, we now recognise each member firm that operates in more than one country as one member, as opposed to separate members for each country in previous years.
  • [2] Total revenues for 2016 includes US$10m from the Baker Tilly Europe Alliance.
  • For the purposes of consistent reporting in line with the International Accounting Bulletin’s regional definitions, Latin America includes Mexico and the Caribbean. North America is the United States and Canada.
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