Big drop in Deloitte's global revenue growth
Big Four firm Deloitte Touche Tohmatsu has revealed a modest 1% growth in global revenues for the year ending 31 May 2002.
Revenues climbed from $12.4bn in 2001 to $12.5bn (£7.9bn) in 2002, and although this was the ninth consecutive year of positive growth for the firm, the previous two years had seen growth rates of 14% and 21% respectively.
Stripping out the revenues from Deloitte Consulting, which DTT plans to separate by year-end to become Braxton, global revenues grew by 4.5%.
DTT said the year had seen the return of some 3,000 staff to the New York office, which had been damaged in the 11 September terrorist attacks of 2001, as the firm had offices in the adjacent World Financial Centre.
It was the only Big Four firm to have offices in lower Manhattan, and claimed the attacks had had a ‘significant adverse impact’ on US revenues.