UK chartered accountants Anderson Anderson and Brown (AAB) has announced that revenue from its Houston-based clients accounted for 15% of its total revenue of £23.8m ($31m) for the year to 31 March 2019.
The firm provides a range of core services covering audit, accounting, tax and corporate finance, to its client base in Houston which spans US listed companies through to owner-managed businesses across various sectors including oil and gas, renewables, retail, financial services and technology.
Currently, over 100 of the firm’s staff work on international projects and this is set to increase as a result of continued investment in and commitment to international growth. The firm’s current pipeline of new opportunities for Houston-based clients is forecast to take its Houston-based income to around 20% of revenues by 2022.
Neil Dinnes, international liaison partner at AAB, said: “Our firm’s international presence has grown significantly over the last few years and we now support companies of all sizes with their operations in over 125 different countries.
“Developing our services and expertise to meet clients’ evolving needs has always been a priority for us. As a firm, we take great pride in supporting our clients with their growth aspirations and, for many of them, Houston continues to be a key area for growth.”
He added: “The importance of Houston and the wider US region to our clients is one of the reasons we continue to invest in developing strong relationships with our international affiliates in the area, which goes hand-in-hand with attending events such as OTC every year.
“The importance of the strength of professional connections in Houston cannot be understated, for example, because of our collaborative approach we were recently able to identify the opportunity of a seven-figure US tax saving for one of our clients.”
Steven Fraser, global mobility partner at AAB, added: “A key benefit of our ties with Houston, as the energy capital of the world, is making strong connections with Houston-based companies who are investing in the north east of Scotland. Aberdeen continues to be an important market for US companies to expand into and also acts as a springboard into other markets beyond the UK.
“As a result, our firm’s own investment into Houston is directly contributing to the continued success of companies operating in the north east of Scotland, which is something we are immensely proud of. It is great to see successful opportunities on both sides of the pond.”