Deloitte’s global revenues hit $43.2bn

Deloitte has reported an 11.3% rise in global revenues, which hit $43.2bn (£323.7bn) for the fiscal year ended 31 May 2018, making the firm the current leader of the Big Four worldwide

All five practice areas grew during this time, with fastest growth recorded in consulting, at 15.7%.  There was double-digit growth in each core capability area within this business, which encompasses technology, strategy and operations, and human capital.

Risk advisory had the second-highest revenue growth at 12%. Audit and assurance experienced growth of 7.7%, financial advisory achieved 8%, and tax and legal saw 8.7% revenue growth. Overall, Europe, Middle East, and Africa (EMEA) grew fastest among the regions with a revenue growth rate of 15.9% measured in dollars, followed by Asia Pacific at 13.3%, and the Americas at 8%.

Among the industries driving Deloitte’s growth in FY2018 were technology, media and telecommunications, and financial services, each of which grew revenue more than 12% on a US-dollar basis. Consumer and industrial products was the top contributor with $1.3bn revenue gained from FY2017 to FY2018.

Punit Renjen, Deloitte global CEO, described FY 2018 as ‘exceptional’.

‘Over the past year, we have increased strategic investments in the capabilities and services most sought-after by clients in the fastest-growing markets in the world. We also have expanded our efforts and investments to drive audit quality and innovation while achieving strong financial results,’ he said.

In FY2018, Deloitte increased its workforce to approximately 286,000 professionals, an 8.4% increase. There were 676 partner promotions, a 19% increase from FY2017, of whom 174 are women.

Report by Pat Sweet

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