BDO International announces revenue for 2008
News Release
December 10, 2008
BDO Global Coordination B.V. is pleased to announce the results of the BDO International network for the year ended 30 September 2008.
Total combined fee income for all BDO Member Firms, including the exclusive members of the US and Spanish Member Firms’ Alliances, amounts to US$ 5.145 billion, an increase of 9% in the last year. In euro, the total is €3.649 billion, an increase of 11% on 2007.
During the year, the network welcomed new Member Firms in France, Croatia and India and completed mergers in a further 12 countries, including Australia, Belgium, Denmark, Malaysia and Poland.
The Latin American region showed the greatest growth at 22%, while strong performance across all other regions has resulted in increases similar to that for the network as a whole.
Fluctuations in exchange rates have significantly affected these results: the Canadian firm, for example, has grown its revenues by 13% in local currency terms, but by only 7% when expressed in euro. Similarly, revenues of the UK firm increased by 13% in local currency but fell by 1% when expressed in euro.
Jeremy Newman, who took up the position of CEO of BDO International in October this year, noted that this further year of strong performance reflects continued investment by BDO Member Firms. “The current financial and economic difficulties will be a challenge for all businesses,” he said. “But I am confident that BDO International will continue to develop because of its unrelenting focus on providing the highest quality advice and service to its clients, delivered by high quality people in all our Member Firms.”
For further information please contact:
Julia Henniker-Heaton, BDO International Executive Office, Brussels
Tel: (+32 2) 778 0130; Fax: (+32 2) 778 0143; e-mail: jhenniker@bdoglobal.com
About BDO Dunwoody LLP
BDO Dunwoody LLP is Canada's sixth largest accounting services and advisory firm. Our team serves a highly diverse clientele, which includes owner-managed businesses, large enterprises, mid-market public companies, community organizations, not-for-profit agencies, and professional firms. From agriculture to real estate, technology to union pensions, and aboriginal communities to municipalities, the professionals of BDO Dunwoody have the expertise to handle any business sector. BDO Dunwoody LLP is a Member Firm of BDO International.
About BDO International
BDO International is a worldwide network of public accounting firms, called BDO Member Firms. Each BDO Member Firm is an independent legal entity in its own country. The network is coordinated by BDO Global Coordination B.V., incorporated in The Netherlands, with its statutory seat in Eindhoven (trade register registration number 33205251) and with an office at Boulevard de la Woluwe 60, 1200 Brussels, Belgium, where the International Executive Office is located.
