Mazars books 12.1% revenue increase in North America in FY 2019

21 January 2020 2 min. read
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Paris-based global accounting and consulting firm Mazars saw 10.4% revenue growth in fiscal year 2019 to reach $2 billion in revenues, while marking solid 12.1% revenue growth in its North American operations.

The firm’s global revenue growth rate was underpinned by impressive organic growth of 9.0%.

“This is the highest level of organic growth recorded by Mazars since 2011/2012. This outstanding performance comes from a combination of the high level of expertise and strong commitment of our teams to deliver our clients with a seamless experience globally, as well as a true recognition of the benefits of Mazars' uniquely integrated partnership model,” Hervé Hélias, CEO & chairman of Mazars Group, said.

The firm’s strategy in the past several years has included a commitment to developing a strong and competitive offer in North America. Mazars currently has eight offices in the US, and two in Canada.

Mazars books 12.1% revenue increase in North America in FY 2019

In July 2019 the firm entered an alliance agreement with four firms in the US – BKD, Dixon Hughes Goodman, Moss Adams, and Plante Moran – as well as MNP in Canada. The alliance allowed Mazars to achieve full coverage in North America, adding the expertise of 16,000 professionals to its global footprint of 24,400 professionals in 91 countries and territories.

Mazars reported revenue growth of 12.1% in North America, outstripping the 7.8% growth in Western Europe, where the firm books most of its fees. However, the company reported that as a result of its international expansion efforts it now has more than one-third of its fees coming from outside of Europe.

Asia-Pacific, which accounts for 15% of revenues, saw exceptional growth of 22.6% in FY 2019, followed by 13.6% growth in Central & Eastern Europe, 13.1% in Latin America, and 9.4% in Africa & Middle East.

Audit remains the core of the firm’s offering, with audit and accounting comprising 64% of total revenues, and advisory 37%. Legal services and consulting services grew the most in FY 2019, at 34.9% and 24.2% respectively, while audit and tax grew by 8.5% and 9.9% respectively.

"2019 has been a pivotal year for Mazars. We believe these achievements and the acceleration of our transformation confirm the technical excellence of our people and the relevance of our strategy,” Hélias said.

Mazars has a set a revenue goal of $2.23 billion for FY 2020.