What a difference a year makes. In 2018, Crowe Global hit and surpassed the $4 billion mark ($4.3 billion, to be exact) for the first time, thanks to massive revenue growth of 14% over the prior year.
And backs were being patted in all of Crowe’s offices around the world:
“The headline figures – in particular double-digit growth across the network – speak for themselves and should be celebrated,” said David Mellor, CEO of Crowe Global. “We are immensely proud of the work we have done throughout 2018 in a rapidly-evolving marketplace and are already building on those successes as 2019 gets underway.”
Welp, Crowe’s 2019 global revenue results are out, and while there was year-over-year revenue growth, it was just meh compared to 2018:
The second-last to report among the world’s ten biggest accounting and advisory networks, Crowe Global has posted 2019 financial year revenues of $4.4 billion, representing growth of 3.5 percent (excluding foreign exchange impact). The results see Crowe only just maintain its position as the eighth largest network of its kind, behind Grant Thornton (which recently lost its sixth spot to RSM) and ahead of Nexia – the latter which is quickly closing in with 2019 revenues of $4.3 billion.
“I am very pleased that we have continued to achieve growth over the last twelve months,” commented Crowe Global’s Chief Executive Officer David Mellor.
Issues in China contribute to stalled growth for Crowe Global [Consultancy.asia]