BDO books fastest growth in a decade to crack $400 million barrier

13 September 2022 1 min. read
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Global accounting and consulting firm BDO has booked its fastest growth in Australia in a decade, lifting its revenues by 15% in its latest financial year to crack the $400 million revenue barrier.

Back in 2018, BDO generated fee income of $269 million in Australia. Fast forward four years of notable growth (three of which were double-digit) and BDO now tops the $400 million mark – with the ambition to reach the half a billion milestone in the coming years.

“Exceeding $400 million in revenue is a key milestone for us as a firm. It places BDO in a unique market position, well above our mid-tier competitors but without losing sight of our exceptional client service offering that has been central to our vision for many years now,” said BDO chief executive partner, Tony Schiffmann.

Revenue of BDO in Australia

According to Schiffmann, BDO’s strong performance during the last financial year and the years before all come down to the quality of – and the results achieved – by its people. “I am particularly proud of our people, who have continued to go above and beyond in demanding market conditions.”

“We’ve developed and attracted some really great talent across all levels of the organisation and their expertise and skills is resonating and reflecting the needs of our client base.”

In the 2022 financial year, which ran from 30 June 2021 to 30 June 2022, BDO saw all its divisions contribute to growth, with advisory the star performer, up 25% on the year previous.

The division’s standout performance was attributed to the firm’s corporate finance and consulting arms taking increased market share in government and public sector contracts as well as a significant uplift in merger & acquisition activity. BDO also enjoyed strong demand for its project & infrastructure advisory capability, particularly in the public sector.

The Audit division grew by 14%, Tax was up 15%, while Business Services realised growth of 9%.

BDO’s growth in Australia coincides with the largest number of partner promotions and appointments (37) in the firm’s history.