Deloitte revenue climbs by £340m
Deloitte, the business advisory firm, has increased revenue by £340m.
In the year ended May 31, 2017, turnover grew from £3.04bn to £3.38bn.
It is the seventh consecutive year of revenue growth and the second consecutive year of double-digit growth.
Consulting revenue grew by 13.6% to £859m, audit and risk advisory by 13.1% to £932m, tax was up by 5.7% to £691m and financial advisory, on a like-for-like basis, grew by 1.5% to £459m.
Deloitte in Switzerland grew by 14.9% to CHF567m (£439m: 31%).
Distributable profit for 2017 was flat year on year at £608m and average profit per equity partner was £865,000.
Growth in the firm’s North West practice was at a similar rate to that seen nationally, driven through increased activity with listed companies. Total income was up 20% in the last year across FTSE 100 and AIM-listed companies.
Likewise, the North West’s increased focus on international growth markets has been another highlight over the last 12 months.
The region has carried out more work in overseas territories such as the US and Europe, as well as emerging markets such as China, India and Japan. This has generated a 15% ise in revenue for the North West practice.
From a services perspective each of the North West practice’s principal divisions grew successfully with particular growth in tax.
Richard Bell, managing partner UK Regions at Deloitte, said: “Our regional markets are home to some of the UK’s most successful and well-known businesses – many of whom we are proud to have as Deloitte clients.
“We are dedicated to making our North West business the best it possibly can be for our clients, our people and society. This attitude has made the North West practice one of the firm’s largest and most influential, that is committed to serving a network of clients that are driving growth across the UK, Europe and beyond.”
Commenting on the performance of the UK firm as a whole, David Sproul, senior partner and chief executive of Deloitte, said: “This is a good performance in a complex and uncertain market which has been impacted by Brexit and the elections in the US and UK.”
In the last financial year, the UK firm recruited more than 3,500 people including more than 1,600 school leavers, interns and graduates. Regionally, Deloitte now employs nearly 6,000 people across 22 offices, including over 800 in Manchester and Liverpool.
Earlier this year, Deloitte announced the appointment of former Manchester City Council chief executive Sir Howard Bernstein as strategic adviser.
Since taking on his new role, Sir Howard has worked both nationally and internationally to support the firm’s clients in areas including healthcare, regional authority development and devolution, as well as the regeneration of some of the regions’ economies and infrastructure.
