Deloitte posts £75m revenue for North East
BUSINESS advisory firm Deloitte earned £75m in revenues through its North East practice last year, the company announced today.
The figure for the year to the end of May represents a fall of less than 5% and contributed to overall revenues of £1.95bn, down £16m on the previous year.
Deloitte’s North East practice employs around 550 people based in offices in Leeds and Newcastle and during the year appointed four new partners and associate partners as well as six directors.
Geoff Taylor, practice senior partner for the North East, said: “Despite a second successive year of extremely challenging markets for Deloitte and our clients, we are emerging from the recession with a very satisfactory performance and our standing in the market enhanced.
“Our firm is in great shape to support our clients in the continuing complex environment and to capture growth opportunities as we continue to gain market share.
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“The financial services sector continues to be an important area of growth for the Leeds office, evidence of which has been demonstrated through several strategic wins with local financial services companies.
“I would expect to see resurgence in the mergers and acquisitions market this year too, following some increased local transaction activity, including private equity deals involving Republic and Zenith Provecta, as well as acting as reporting accountants to CPPGroup in its recent IPO.”
Mr Taylor said the creation of Drivers Jonas Deloitte following a merger earlier this year had brought “exceptional people” to the Leeds practice and Deloitte would continue to look for other opportunities to increase the range of advice it offers.
