Andersen unit outperforms global trend in UK
Andersen Consulting’s UK division outperformed the worldwide organisation, increasing revenues by 30 per cent to #444.7m for 1997. Worldwide revenues rose 25 per cent to a record $6.6bn for the same period.
Vernon Ellis, managing director of the EMEAI (Europe, Middle East Africa and India) region attributed the unit’s strong growth to the acceleration towards completing the Single Market commenting: “The rate and pace of change in European competitiveness has been phenomenal.” Revenues for EMEAI rose by 23 per cent to $2.31bn, but after adjustment for exchange rate fluctuations this represented a 31 per cent increase.
Fastest growing sectors worldwide were Energy (up 86 per cent), Insurance (56 per cent), and Electronics/High Tech (up 45 per cent). Staff numbers were up 19 per cent to 53,426.
Andersen Consulting’s wrangle with Arthur Andersen grew more bitter after a federal judge refused the former’s request for a restraining order on the two firms’ governing body, Andersen Worldwide. Andersen Consulting had claimed that the accounting majority on the firm’s ruling body was trying to pre-empt arbitration of the inter-firm dispute and expel the consultants.