Not one to be left out of the "we made a metric shit ton of money this year, guys" party, Grant Thornton announced today the highest revenue in the firm's 90 year history. Considering a dollar could buy you a month's worth of groceries, a house, and a horse 90 years ago1, that's not saying much.
Grant Thornton now boasts a dynamic $1.354 billion in revenue for its fiscal year ended July 31, a 6.2 percent increase over last year.
The revenue increase reflected organic growth across the firm’s service lines along with the contributions of the Oracle Solutions business acquired at the beginning of the 2014 fiscal year. The acquisition led Grant Thornton’s Advisory Services to continued growth, advancing 15.1 percent from the previous year. Tax Services grew by 3.8 percent while Audit Services, in which the competitive environment remains high, grew by 0.4 percent. The firm’s Energy; Professional Services; and Construction, Real Estate and Hospitality practices led from an industry perspective, all realizing double-digit growth for the year.
Outgoing CEO Stephen Chipman took this opportunity to brag, of course:
“This milestone is a testament to our exceptional people and their demonstrated quality work and dedication to extraordinary client service — driving value for the dynamic organizations we serve as well as for our firm,” said Stephen Chipman, chief executive officer of Grant Thornton LLP. “Now more than ever in our 90-year history, Grant Thornton possesses significant capabilities to continue to advance our strategy in the marketplace for long-term success.”
After the champagne has been poured and the partners paid out, GT will continue to "invest in talent who make a marked difference in the quality and breadth and depth of its services to clients in its chosen markets." You can also mark them down for planned organic growth, strategic hires, development of their advisory practice, and "the realization of improved operational efficiencies." All in their chosen markets, natch.
1 I'm making that up.