‘Robust’ performance by Deloitte in region – Jenkins
DELOITTE’S Yorkshire operation has grown annual revenues to £85m, boosted by a major role played by the firm in the London Olympic Games.
Martin Jenkins, practice senior partner for Yorkshire and the North East, described the office’s performance as “robust” and said investment in staff and services had benefited the business.
Over the year to May 31, Deloitte in Yorkshire made five partner appointments and appointed six people as directors.
Mr Jenkins said: “This has been another robust performance in what continues to be an uncertain economic environment.
“Last year we took the decision to invest heavily in people, skills and new solutions, such as Deloitte Analytics, in order to enhance and extend the services we offer our clients.
“This investment in our business is reflected in the growth we have achieved across our practice.”
He said strong performances had come from consulting, advisory and tax as well as financial services, manufacturing and consumer business industry sector groups.
“Business has a vital role to play in leading a new era of wealth creation and we will continue to work closely with our clients to help them address the challenges they face but also to encourage them to seize the opportunities the current environment presents,” Mr Jenkins added.
He said as the official professional services provider to London 2012, staff from the Yorkshire and North East operation had played key roles in delivering the Games. These included lead London 2012 partner for Deloitte, Heather Hancock.
Overall, Deloitte provided more than 130 secondees and 200 advisory projects to the Games’s organising committee.
David Sproul, chief executive and senior partner of Deloitte, called for the positive atmosphere created by London 2012 to be replicated in the business world, with corporate Britain putting in a “gold medal performance”.
Mr Sproul said: “As the UK enjoys the spotlight and feel good factor of London 2012, we are all aware that away from the glare of publicity, the economic picture isn’t so rosy. The same energy, drive and creative ambition used to win and deliver the Olympic Games is needed to create a new era of prosperity for the UK.
“I believe it is time for business to step forward. UK corporate cash reserves of some £750bn; low levels of public trust in big business; an eastward shift in global demand; and record levels of public and personal debt all point to the need for a recovery that has to be corporate-led.”
Nationally, Deloitte reported revenues of £2.32bn, an 11% increase on the previous year. Profit distributable to partners was £569m, up from £535m in 2011.
The average profit earned by each partner in the year, after providing for pensions and annuities payable to retired partners, was £789,000 compared with £758,000 last year.
