Kreston International reports organic growth of 7% in 2013

January 31, 2014

Kreston International reports organic growth of 7% in 2013
kreston growth (2)
In the International Accounting Bulletin World Survey published this week, Kreston International maintained its ranking as the world’s 13th largest network of independent accounting firms with aggregate fee revenues of US$1,945m.

Jon Lisby, Kreston CEO reports “ This was another strong performance by our member firms around the world with overall organic growth of 7% supported by continued expansion of international referral business. With the average growth of all international networks reported at 3%, this result is particularly pleasing. Our members are responding well to the extremely competitive conditions and continue to gain market share adding further weight to Kreston’s reputation as the trusted advisor to entrepreneurial business in the SME and Mid-Market sectors”.Kreston’s aggregate revenues at the start of 2014 were marginally down from the previous year total of US$1,964 following the sale by USA member CBIZ of its Medical Management Professionals division which had fee revenues of $138m.

Jon continued “ Recruitment of high quality firms in key markets contributed an additional 3% and from discussions currently progressing in a number of countries, we anticipate that recruitment will be a significant factor in the overall performance for the current year.”

Kreston International is now represented by 186 independent firms and national networks in 108 countries with over 20,000 professional and support staff.