REVENUES HAVE LEAPT at Deloitte during the last financial year. The firm posted an 11% increase in revenues for the year ended 31 May 2012, to £2.3bn.
Profits distributable to partners increased to £569m, compared to £535m in 2011. Average profit per partner was £789,000. Compared with £758,000 a year earlier.
Revenues increased across all Deloitte’s service lines.
Deloitte chief executive and senior partner, David Sproul, said: “This is another robust performance in what continues to be an uncertain economic environment. Last year we took the decision to invest heavily in people and skills, and new solutions such as Deloitte Analytics and Deloitte Digital, in order to enhance and extend the services we offer our clients.
“We achieved particularly strong growth in our consulting and advisory businesses working with the UK corporate sector, and pleasing results in our Swiss practice.
“We are extremely proud of helping deliver the London 2012 Olympic and Paralympic Games in our capacity as official professional services provider. By the end of the Games, over 750 of our partners and people will have provided over 750,000 hours of expertise to help make London 2012 happen.”
Audit grew by 13% to £663m (£586m in 2011); tax by 7% to £529m (£496m in 2011); consulting by 14% to £524m (£460m in 2011), corporate finance by 6% to £402m (£381m in 2011); and Switzerland by 21% to £211m (£175m in 2011).
Deloitte promoted 63 new partners and hired 43 direct-entry partners from competitors and industry over the past 12 months. It stated that this represents an important investment in the future success of its clients.
The firm recruited 1,118 graduates and 380 school leavers. It has 1,750 spaces for graduates and school leavers in its 2013 intake.
Richard Kateley of Legal & General discusses the advantages of close cooperation between accountants and financial advisers
The Practitioner becomes frustrated with HMRC's approach to a client's VAT investigation
The firm has made key appointments to its executive team, including a new chief financial officer, and a sales and marketing director
Partners at the insolvency firm Craig Povey and Kevin Murphy were appointed liquidators on 2 February