Combined revenues at Deloitte climbed 15.5% to $23.1bn (£11.3bn) for the year ended 31 May 2007, as the global firm enjoyed 12 months of record growth.

This is the fifth year in a row that Deloitte has delivered double-digit fee income growth. In 2007 every Deloitte service line in every country enjoyed double-digit fee income increases.

'The results validate Deloitte's strategy to offer the breadth of services and deep competencies,' James Quigley, Deloitte's global CEO.

Financial advisory services showed the largest growth, increasing 25.2% to $1.89bn. Consulting and tax services each grew 16.5 percent to $5.19bn and $4.98bn respectively. Audit income rose by 13.1% to $11.08bn, with strong results in the core assurance services as well as enterprise risk services.

Geographically, the Asia Pacific region was the fastest growing in local currencies, increasing 17.2 percent to $2.46bn. The Europe-Mideast-Africa region grew 12.6 percent to $9.18bn and the Americas region grew by 11.9 percent to $11.49bn.

'The multi-million dollar investments in emerging markets like China and India are enabling Deloitte member firms to grow their local practices to serve our clients in those rapidly expanding markets,' Quigley enthused.

Quigley also remained optimistic on prospects for the future, despite recent turmoil in credit markets

'We cannot ignore the potential impacts of a weakened US housing market, tightened lending environment, and expected slowdowns in some major economies. At the same time, Deloitte is stronger than ever to adapt to new challenges, manage change, and help our clients overcome adversity,' he said.

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