14 percent increase in revenues for Crowe Global after rebranding
Crowe Global has announced its latest financial performance information, showing revenues of $4.3 billion (Sh430 billion) in 2018.
This represents 14 percent growth in revenue from 2017 for the accounting network currently ranked eighth largest in the world.
The improvements in revenues come barely 10 months after the firm rebranded from Crowe Horwath International to Crowe Global: in line with global rebranding that was taking place amongst member firms.
Crowe Global’s Kenyan affiliate, Crowe Erastus & Co., is among the firm’s African partners that registered growth averaging 9 percent.
Erastus Omolo, the managing partner at Crowe Erastus & Co. confirmed to Financial Standard that the firm expanded its portfolio of consultants and expertise as well as collaborative partnerships.
“Our business managed to do well even in 2018 though the country was still recovering from the post-election economic and political instability,” says Omolo.
The surge in revenue also comes after Crowe Global won exclusive membership of Ruihua CPAs in China – the nation’s second-largest accounting practice behind only PwC.
Elsewhere, in Asia, the firm’s acquisition of Toyo in Japan (from Binder Dijker Otte) boosted its revenues by $40 million (Sh4 billion).
“The success stories that reach me from around the globe show that we have a network of market-leading firms dedicated to delivering lasting value for clients,” said David Mellor, CEO of Crowe Global, in a statement sent to newsrooms.
The numbers cap a great year for new Chief Executive David Mellor, who stepped up from UK CEO to Global CEO in April 2018.
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