Revenues leap in China for global accountancy services network BDO
BDO, the global accountancy and advisory services network with a firm of more than 8,500 employees in China, has seen its revenues in the country grow by 28% in the year to 30 September.
The company also reported growth across the rest of Asia Pacific, especially in India where revenue was up 50% over the year.
The number of offices in the BDO global network grew by 6% to reach a total of 1,408 in 154 territories over the same period, while the total workforce grew 8.2% to include 64,303 people.
As a whole, the group delivered a combined total fee income of £4.8bn, which at constant exchange rates translated to a growth of 12.95% year on year.
BDO’s global CEO Martin van Roekel said: “Looking back at the growth we have been able to realise in the past year it is very satisfying. It proved clearly that we have been able to define the right strategy, but executing the strategy is even more important and that has worked out very well too.”
Van Roekel explained that the mid-tier accountancy market had consolidated in recent years mainly due to an increase in the number of global clients who were looking for a firm with international expertise.
When it came to the progress his firm had made in China, Van Roekel said it was "still a very important growth engine for us" and went on to claim that BDO was now "one of the market leaders in China."