Ernst & Young Irish Operations Grew by 5.7%

By Michael Foster, Big4.com Blogger

Ernst & Young has reported that its Irish operations have seen a rise in revenue of 5.7 per cent.

The Big4 firm announced Wednesday that Irish operations saw an increase in revenue to €130.2 million for the fiscal year 2012, ending June 30th, 2012. While the firm cited its “top talent” and its ability to win more client contracts, Ireland’s recessionary economy since the European Union bailout in 2010 has meant austerity cuts, job cuts, and price hikes throughout the country, with unemployment running at 14 per cent in the country.

Ernst & Young Ireland Managing Partner Mike McKerr noted that they were committed to helping the Irish economy grow and that he was hopeful his firm could help Ireland recover from its economy position. “I am optimistic that we can continue to shape and positively support the future direction of our clients’ growth, the way that our people work and the social and business issues that impact on the growth of the Irish economy,” he said.

The firm saw strongest growth in its advisory services. Transaction advisory services grew by 29.1 per cent, while advisory services grew by 14.4 per cent.

In 2011, the firm said that it intended to hire 300 partners in Ireland alone and has since been adding to its headcount in the plagued European economy. The firm has recently said it will hire 10,000 in the United States. The firm’s current headcount is about 167,000.