Baker Tilly International has reported annual revenues of US$3.3bn (£2.06bn) for the financial year ending 30 June 2012, a year-on-year increase of 3%.

The network reported strong results despite a difficult trading environment, particularly in the eurozone.

"This is a strong performance in what remains an uncertain trading environment in many markets' said Geoff Barnes, CEO and president of Baker Tilly International.

'Despite on-going uncertainty and volatility in some markets, especially within the eurozone, Europe performed well in 2012 with growth across a spread of countries. This contributed to a combined increase of 8% for EMEA.'

In Latin America, revenues rose 14% reflecting growing demand from rapidly expanding markets. The network also sees potential for growth in Africa.

'We are excited by the potential in Africa and continued development in the Middle East. We have welcomed five new members firms to the network last year from these areas. Increased investment - particularly in Africa - is very much on our agenda.

The network is also targeting key market sectors to develop new business, including mining and telecoms.

Barnes said: 'We have an ambitious strategy to continue to grow and strengthen our operations across the continent, which is seeing increased activity by multinational businesses looking to capitalise on its enormous potential especially in sectors including the extractive industries, telecommunications and consumer products. They are looking for first class advice and help on the ground, and we are keen to meet that need.'