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Deloitte: Firm Announces Record Revenues in 2011
September 25, 2011
Ethan Strassfield, Big4.com Staff Reporter
In a recent announcement, Deloitte‘s member firms worldwide reported revenues of US$28.8 billion for the fiscal year ended 31 May 2011. The results indicate the highest revenue ever recorded by the global member firm network across all four major business sectors, spanning all three major geographic regions.
Global CEO Barry Salzberg, Deloitte Touche Tohmatsu Limited commented:
“These results underscore the strength and resilience of Deloitte’s diversified portfolio of businesses and a relentless commitment to quality and to member firm clients who have driven this growth.”
Deloitte’s revenues grew 8.4 percent in U.S. dollars and 7.7 percent in local currency terms, the highest revenue growth in the last three years. Compound aggregate growth for FY2005-2011 was 8.0 percent.
The financial advisory sector led Deloitte’s revenue growth, with a 15.1 percent increase, followed by consulting with a 14.9 percent increase in revenue. Growth in the financial services sector was bolstered by an increase in merger-and-acquisition activity in emerging markets such as China, India and Brazil.
Revenue from tax services grew 5.2 percent; audit and enterprise risk services grew 4.7 percent. In addition, financial services recorded the highest revenue growth with 13.5 percent; energy & resources revenue grew by 8.8 percent; life sciences & health care by 8.1 percent, and manufacturing by 7.5 percent.
“Overall, Deloitte’s strong revenue growth is a direct result of member firms’ unrelenting focus on strategic priorities and excellence in client service, the foundation and hallmark of Deloitte’s As One strategy,” Salzberg added.
Almost all member firms in the Asia Pacific region experienced double-digit growth. Deloitte China witnessed revenue growth of 8.3 percent, while member firms in Australia and India saw revenue growth of more than 25 percent.
Deloitte hired 49,000 professionals in 2011 and added 12,000 new jobs, a 7.1 percent increase in its global workforce compared to FY2010. Deloitte expects to increase its total workforce to 250,000 by FY2015, an increase from its current 182,000 professionals worldwide.