CRG Nexia, the Romanian member of Nexia International, has acquired Group Expert Consulting 2000, an accountancy, in an effort to consolidate its position on the Romanian market. The resulting company will operate under the CRG Nexia brand and will target the top 10 ranking in the audit, accounting and consultancy business.
“We are in the most important stage of our consolidation on the Romanian market. This move is part of our five year global strategy, approved last November in Dubai, providing the consolidation of the global network, simultaneous to the recruitment of new partners at a local level”, said Kevin Arnold, CEO NEXIA International.
According to a survey conducted by CRG Nexia, the Big Four Companies saw their share fees decrease from 76.5 percent in 2009 to 72.1 percent in 2010. Big Four recorded a decrease of 11.42 percent to RON 558.3 million, as companies tried to reduce costs. These data refer to the Romanian market.
KPMG remains the leader, despite the small decrease in fee of 2.2 percent, from RON 182. 5 million to RON 178. 5 million, in 2010 compared to 2009. However, the decrease in profit in significant: RON 2, 5 million in 2010 versus RON 9 million in 2009.
PwC, second ranked both in 2010 and 2009, is the only Big Four that recorded a growth in fee compared to the prior year. Its turnover has increased from RON 172.5 million to RON 175.4 million; PwC has also recorded an increase in profit from RON 14.8 million in 2009 to RON 15.4 million in 2010.
The 3rd ranked in 2010 is Ernst & Young, same as in 2009. Despite the major decrease in fee, from RON 155.3 million in 2009 to RON 115.3 million in 2010, Ernst manages to remain the leader Big Four in respect of profits recorded, reaching RON 21.5 million in 2009 and 19.2 million in 2010.
Deloitte’s fee, which is ranked 4th, has decreased with RON 40 million in 2010 compared to the previous year, but the company profits surged by 158 percent.
Nexia Romania ranked 16th, reported a fee of RON 4.6 million for 2010, a decrease from the RON 4.9 million recorded in 2009. However, the profits have increased from RON 237.480 to RON 312.095. For next year, the company is trying to reach the 12th position and increase its turnover to EUR 1 million.
The company has two offices, in Constanta and Bucharest, but additional branches may be opened in Sibiu, Cluj Napoca or Timisoara.
In the picture, Kevin Arnold, CEO NEXIA International