BusinessCompany NewsTax revenues boost Deloitte’s worldwide growth

Tax revenues boost Deloitte's worldwide growth

Deloitte Touche Tohmatsu has reported global gross revenues of $16.4bn (£8.6m), a rise of 8.6% for 2004 as tax revenues lead the way with 60% growth in the past two years.

Link: PwC reports global profits rise

For the first time ever, Deloitte firms in Europe, Middle East, Africa, Asia Pacific and Japan contributed half of the reported revenues.

William Parrett, Deloitte global chief executive, said: ‘2004 was the 11th consecutive year of aggregate revenue growth for Deloitte member firms. In a decade, Deloitte has transformed from being one of the smallest professional services organisations to being a leader, including a leader among the Big Four.

‘Further, the mix of member firms’ revenues clearly reflects Deloitte’s multicultural and local market strength around the world. We are not a global American, European, or Asian firm, but an organisation of local firms.’

Deloitte’s consulting and advisory divisions contributed $5.9bn to revenues, making it one othe three largest consultancies in the world. Deloitte is the only Big Four firm to retain its consulting arm.

Parrett said: ‘Only Deloitte member firms offer a full range of services to the market. We made a decision to keep audit, tax, consultative, and financial advisory services within our member firms. This has proven to be the right course of action and has positioned Deloitte member firms for continued long-term growth on a global basis.’

John Connolly, UK chief executive and global managing director, added: ‘The UK’s contribution was once again significant and in the next fiscal year good growth is expected.’

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