Consulting division boosts Deloitte’s annual revenues

Consulting division boosts Deloitte’s annual revenues

Deloitte reports fifth consecutive year of international growth as revenues hit $34.2bn

DEMAND for consulting services helped Deloitte deliver record aggregate revenues of $34.2bn (£21bn) for the fiscal year ending 31 May, the professional services firm has said.

Deloitte’s consulting division, which delivered double-digit growth, contributed to a 6.5% increase in global sales and vastly outstripped the performance of the Big Four firm’s audit division, which grew by 2.5%.

Additional growth of 7.7% in tax and legal, 6.8% in financial advisory and 4.2% in enterprise risk services also contributed to its fifth consecutive year of international growth, compared to much more modest growth of 1.4% in the firm’s UK outfit.

Like its Big Four rivals, Deloitte has been building its consulting division in order to offset stagnating sales in the audit market. In 2013, Deloitte bought US strategy consultants Monitor, while PwC snapped up international consultancy business Booz & Co in April and, most recently, EY acquired The Parthenon Group, which provides a range of strategic and transaction advisory services across the globe.

Americas member firms led regional growth with an aggregate 7.5% increase in local currency with the strongest growth coming from Latin America and Brazil. The US, the largest member firm in the network, produced particularly strong growth, led by an 11.3% increase in Consulting.

Europe, Middle East, and Africa member firms grew by an aggregate 5.8% in local currency, while Asia Pacific member firms experienced combined growth of 4.9%%.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

Professional Services Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine

Accounting Firms Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021

Making Tax Digital Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource