The company, which opened offices in Dubai and Istanbul last year, said the revenue boost has allowed it to increase its workforce by 16% to reach 660 worldwide, with plans to open in Brazil and Chile this year. It plans to add a further 150 new employees in 2013.

Co-CEO Georg Tacke (pictured) said: “Our rigorous globalisation strategy is undoubtedly a reason for this success. All of the firm’s regions and industries contributed to its considerable growth. Even in the currently weaker southern European markets it generated double-digit growth rates this past year. We anticipate double-digit revenue growth in 2013 which will push us well above €160m.

“For 2015, the firm’s five-year plan projects over €200m revenue and to keep up with this growth rate, the consulting team will also have to expand. Companies have reached the end of the road with regard to cost cutting. If they want to grow, they have to become active on the market side. And this is precisely our area of expertise.”