Deloitte grows 33%
Deloitte & Touche has revealed a 33% growth in annual revenue, with some of it down to the transaction with Andersen.
Although the firm did not break up its figures, it showed total revenue had grown from £924m in 2002 to £1,228m in its current financial year.
The firm said: ‘The results reflect the Andersen transaction from August 2002, when over 3000 partners and staff joined the firm.’
UK Senior partner John Connolly told Accountancy Age that the integration had gone with a minimum of disruption, so the firm’s employees had been able to focus on clients.
He added that this was one of the reasons the firm’s fee income had not taken a hit despite the difficult economic environment.
Another important development was the firm’s decision to keep Deloitte Consulting.
Connolly said retaining the consultancy arm ‘provides Deloitte with an unparalleled range of skills which will benefit the delivery of all our service to clients.’
And he said that, although there had been lower revenues in the consulting business because of the weaker market, the firm had achieved growth in other sectors to counter balance the drop.
He added that this gave them the opportunity to become the biggest accountancy firm.