Practice

HLB welcomes ‘record breaking’ FY21

The group said it is now on course to meet all of its strategic objectives by the end of 2023

HLB, a global network of independent professional accounting firms and business advisers, has welcomed a “record breaking” 2021 with combined revenue earnings of $4.08bn (£3.24bn), while the network grew by 25% against 2020.

The group said it is now on course to meet all of its strategic objectives by the end of 2023, and despite an “unpredictable” year, it has exceeded expectations and shown “exponential” growth across several areas. 

For example, it has seen service line growth of 35% in tax services, 16% in accounting and 8% in audit and assurance.

In addition, its continued focus on diversification into advisory services resulted in 34% growth, now accounting for 28% of the total fee income.

Meanwhile, revenue from cross-border engagements grew by 10% and there was an 18% rise in overall headcount with a 24% increase in female partnerships.

Marco Donzelli, HLB Global CEO, said: “Despite the societal and economic challenges of 2021, we took learnings from the start of the pandemic and used our innovative thinking to close the year on a record-breaking high. Over 2021, we continued to focus on our people, embedding a culture of learning and upskilling. 

“We also invested in technology to facilitate hybrid working which is now a standard practice across most of our network. For the first time, we have reported on our CSR activities as we are acutely aware of our responsibility to social and environmental matters.  Ultimately, we want to create a better future for our people, clients and the communities we operate in.” 

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