PracticeAccounting FirmsAndersen integration boosts profits at Deloitte

Andersen integration boosts profits at Deloitte

Deloitte & Touche has revealed profits per partner of £570,000 in the Big Four firm's first interim results since it adopted limited liability partnership status.

Link: Deloitte in bid for scholars

The figure was available for the first time yesterday, as Deloitte announced pre-tax profits of £172m for six months to 30 November. The unaudited figure compared with £90m the previous year, a dramatic difference mainly due to £70m of costs associated with the integration of Andersen partners and staff in 2002.

Turnover was up to £597m from £547m for the equivalent period last year, demonstrating some of the benefits of the de facto takeover of Andersen’s UK business.

Revenues increased for audit (up 4% to £159m), tax (up 27% to £184m) and corporate finance (up 21% to £110m). That more than compensated for an 8% fall from consulting takings, down to £145m. Deloitte now stand alone among the big four firms in having a consulting operation.

John Connolly, senior partner and chief executive, said: ‘The unique Deloitte business model embracing audit, tax, consulting and corporate finance has enabled our firm to be successful across a broad range of services and industries.’

Related Articles

LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

Accounting Firms LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

20h Fergus Payne, Lewis Silkin
BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

7d Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

1w Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

2w Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

2w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

2w Emma Smith, Managing Editor
RSM announces two partner promotions

Accounting Firms RSM announces two partner promotions

3w Emma Smith, Managing Editor