Consultancy grows by disappointing 10%
The consulting market hasn't grow to the extent commentators expected
Consulting fees grew by just 10% this year, according to a survey by our
sister title Management Consultancy.
The top 75 consulting firms grew revenues by £455m, with revenues for the
firms in the survey breaking the £5bn barrier.
The consulting market did not, however, grow to the extent commentators had
expected. This year’s increase in fees of 9.6% on 2004 compared to an increase
of 13.9% the previous year.
The results also show the reliance of the Big Four on their consulting arms –
Deloitte picked up £351m in business advisory fees and PwC earned £216m.
Ernst & Young recently re-entered the market after a five-year hiatus,
publicly announcing its focus on growing business advisory revenue streams. KPMG
has also re-joined the market, reaching a deal with Atos origin not to poach the
latter’s staff in exchange for ending their non-complete agreement.