Double-digit revenue rise for Deloitte

DELOITTE has announced a 13.6% growth in turnover growth over the last 12 months – the fastest increase for the firm in a decade.

The UK Group recorded revenues of £3.04bn for the year ended May 31, 2016; a double-digit increase on last year. This represents the sixth consecutive annual revenue rise for Deloitte, which has seen growth across all five of its business areas.
 
It has also been a strong year for the firm’s Midlands practice, which saw year-on-year growth continue for the sixth consecutive year.

In addition, the Midlands practice welcomed 185 new people via experienced hire, graduate and apprenticeship routes and promoted five of its staff to partner.
 
On a national level, Deloitte was one of the first firms to report its gender pay gap, which stands at 16.8% this year, compared to 17.8% in FY15, and the national average of 19.2%. The firm’s aspiration is that 25% of partners will be women by 2020 and this year 24 women were promoted to partner – three in the Midlands.

Pauline Biddle, Practice Senior Partner for Deloitte in the Midlands said the region’s strong and diverse business community had continued to attract investment.

“It also provides us and our clients with the chance to prosper and, critically, create and build sustainable, exciting careers for the brightest talent, whatever their background or circumstance,” she said.
 
“Going forward, we will of course continue to adapt to new and changing markets, and while the Brexit vote introduces new challenges, we are confident in our ability to continue to help our clients navigate this time of uncertainty and be successful, whatever their requirements or ambition.”
 
David Sproul, senior partner and chief executive of Deloitte, added: “This year we have seen double-digit growth across all business areas. We have had significant success in the audit market, with four wins in the FTSE 100, taking our market share to 23%.

“It has also been a strong year for our advisory businesses, given high levels of demand for our M&A, risk management and regulatory, international tax and compliance services. We’ve also had high demand for our business transformation capabilities using technologies such as digital, cloud and analytics.”
 
From an industry perspective, growth was most notable in health and life sciences, financial services, manufacturing and technology, media and telecommunications. Its global, private and national sectors all performed well, which the firm demonstrated its ability to serve a range of requirements.
 
“The early economic indicators suggest the uncertainty created by the Brexit vote will lead to a slowdown in the second half of this year. However, UK businesses are both adaptable and resourceful and the UK remains in the top tier of the world’s most competitive economies, benefitting from strong institutions and a highly-skilled workforce,” added Mr Sproul.

“Business must now work with government to set a vision for a post-EU environment that is open, pro-growth and, crucially, delivers prosperity and opportunity for all.”

Close