PracticeAccounting FirmsConsulting division boosts Deloitte’s annual revenues

Consulting division boosts Deloitte’s annual revenues

Deloitte reports fifth consecutive year of international growth as revenues hit $34.2bn

Consulting division boosts Deloitte’s annual revenues

DEMAND for consulting services helped Deloitte deliver record aggregate revenues of $34.2bn (£21bn) for the fiscal year ending 31 May, the professional services firm has said.

Deloitte’s consulting division, which delivered double-digit growth, contributed to a 6.5% increase in global sales and vastly outstripped the performance of the Big Four firm’s audit division, which grew by 2.5%.

Additional growth of 7.7% in tax and legal, 6.8% in financial advisory and 4.2% in enterprise risk services also contributed to its fifth consecutive year of international growth, compared to much more modest growth of 1.4% in the firm’s UK outfit.

Like its Big Four rivals, Deloitte has been building its consulting division in order to offset stagnating sales in the audit market. In 2013, Deloitte bought US strategy consultants Monitor, while PwC snapped up international consultancy business Booz & Co in April and, most recently, EY acquired The Parthenon Group, which provides a range of strategic and transaction advisory services across the globe.

Americas member firms led regional growth with an aggregate 7.5% increase in local currency with the strongest growth coming from Latin America and Brazil. The US, the largest member firm in the network, produced particularly strong growth, led by an 11.3% increase in Consulting.

Europe, Middle East, and Africa member firms grew by an aggregate 5.8% in local currency, while Asia Pacific member firms experienced combined growth of 4.9%%.

Related Articles

Top 50+50: Firms fall short on diversity

Accounting Firms Top 50+50: Firms fall short on diversity

2w Alia Shoaib, Reporter
Deloitte global revenues hit record $38.8bn

Accounting Firms Deloitte global revenues hit record $38.8bn

1m Emma Smith, Managing Editor
PwC to take over from Deloitte as Diploma auditor

Accounting Firms PwC to take over from Deloitte as Diploma auditor

2m Alia Shoaib, Reporter
Deloitte reports gender pay gap of 18.2%

Accounting Firms Deloitte reports gender pay gap of 18.2%

3m Alia Shoaib, Reporter
Deloitte appoints new head of private client services

Accounting Firms Deloitte appoints new head of private client services

3m Emma Smith, Managing Editor
Deloitte rises in auditor rankings with most FTSE 250 clients

Accounting Firms Deloitte rises in auditor rankings with most FTSE 250 clients

2m Alia Shoaib, Reporter
Deloitte reports revenue growth of 11%

Accounting Firms Deloitte reports revenue growth of 11%

2m Alia Shoaib, Reporter
Deloitte acquires Swedish digital agency Acne

Accounting Firms Deloitte acquires Swedish digital agency Acne

2m Alia Shoaib, Reporter