Grant Thornton M’sia’s revenue grew 27% in FY18

By FARA AISYAH

Audit, tax and advisory firm Grant Thornton Malaysia has registered a 27% growth in revenue for the financial year ended Sept 30, 2018 (FY18), driven by business expansion and enhanced contribution from its advisory services.

Grant Thornton Malaysia country managing partner Datuk Narendra Jasani (picture) said the positive growth was contributed by its advisory services, particularly in the services of receiver and manager.

“This is a testament that despite difficult times, we are still the trusted advisor for our clients because of our vast capabilities.

“Besides that, we are the Reporting Accountants for one of the only two companies listed on the Main Board in Bursa Malaysia in 2018,” he said in a statement yesterday.

Malaysia was one of the contributors to the parent company Grant Thornton International Ltd’s record global revenue of US$5.45 billion (approximately RM22.41 billion) for FY18. No breakdown for Malaysia’s contribution was provided.

The record turnover was the global firm’s highest growth rate in six years, driven by broad-based growth of 9.4% across the network.

Narendra said in Malaysia, the firm has been expanding clienteles and increasing workforce in all offices.

“One key milestones for us is that we have strengthened our presence in the southern region with the merger of our Johor Baru office with MS Wong & Co in September last year.

“As a result of the merger, the Johor Baru office now known as Grant Thornton MSW, is 80-person strong and growing, making Grant Thornton one of the largest audit, tax and advisory firms in Johor Baru,” he said.

On the global front, higher earnings were driven by transformational mergers in Japan and South Africa, combined with strong organic growth across Asia Pacific and Africa which delivered strong growth in both regions of 18.7% and 54.7% respectively.

Meanwhile, Europe recorded an above average growth of 7.7%, with over half of European member firms growing revenues by over 10%.

Grant Thornton International CEO Peter Bodin said the firm’s financial success in FY18 was the result of a deli- berate strategic focus on its core mid-market client base, and its key strategic growth markets where the firm wants to be successful.

“Despite growing uncertainty in many markets this year from political upheaval and rising trade tensions, trading conditions have remained robust for clients around the world.

“Many have taken advantage of these favourable conditions to invest for the long term and prepare for the uncertain conditions that may lay ahead,” he added.