BDO announces record FY22 results >$400 million

BDO announces record FY22 results >$400 million

BDO Australia has exceeded $400 million in its latest FY22 results released today.

BDO Australia recorded revenue of $403,426,678 for the financial year ended 30 June 2022 (FY22). The results represent a 15.5% growth year on year.

“Exceeding $400 million in revenue is a key milestone for us as a firm. It places BDO in a unique market position, well above our mid-tier competitors but without losing sight of our exceptional client service offering that has been central to our vision for many years now,” said BDO chief executive partner, Tony Schiffmann.

All BDO practice areas achieved double digit growth for the FY22 period; Audit 14.1%, Tax 14.5%, Business Services 9.4% and Advisory 24.5%.

BDO’s advisory division standout performance was attributed to the firm’s corporate finance and consulting arms taking increased market share in government and public sector contracts as well as a significant uplift in M&A activity. This area also includes Project & Infrastructure Advisory which is becoming a major portion of BDO’s public sector offering and seen significant investment in headcount during the period.

Tax and Audit division growth, 14.5% and 14.1% respectively, was attributed to strong activity on existing clients and a significant number of new clients onboarding.

“BDO is taking market share from competitors in key markets,” continued Mr Schiffmann.

BDO’s strong performance during the last financial year comes down to people and clients according to BDO chief executive partner, Tony Schiffmann.

“This is our strongest year of financial growth in over ten years,” said Mr Schiffmann.

“We’ve developed and attracted some really great talent across all levels of the organisation and their expertise and skills is resonating and reflecting the needs of our client base.”

BDO’s FY22 record growth coincides with the largest number of partner promotions and appointments (37) in the firm’s history. The firm also boasts a strong pipeline of internal candidates in their path to partner program.

Looking forward, BDO’s chief executive confirmed that the firm aspires to reach $500 million revenue in the near term.