Deloitte post solid performance despite economic environment
27/08/2010
The company is confident it will return to growth in 2011


Fuente:  http://www.consultant-news.com  Fecha: 27.08.2010

Deloitte post solid performance despite economic environment

Deloitte UK, the business advisory firm, has reported revenues of £1.953 billion for the year ended 31 May 2010, just £16 million below the previous year, despite the tough economic environment.

The profit for the financial year distributable to partners was £590 million against £601 million in 2009. The average profit earned by each partner in the year, after providing for pensions and annuities payable to retired partners, was £873,000 compared with £883,000 last year.

Most business divisions saw a drop in revenues, 2.9% in Audit, 2.3% in Tax and 4% in Consulting, which Corporate Finance grew by 10.6%.

John Connolly, Deloitte senior partner and CEO, commented: “Consulting produced a very robust performance given curtailed discretionary spend in both the public and private sectors. Whilst the economic environment will remain fragile, we anticipate a return to revenue growth for our audit, tax and consulting businesses in 2011.”

During the year Deloitte increased its headcount by 2.5% to over 12,000 people and plans to increase its graduates hire in the year ahead to 1,100. The company also appointed 118 new partners and associate partners.

Deloitte made several acquisitions, bringing in over 750 people. Drivers Jonas Deloitte was created following the merger with real estate advisory firm Drivers Jonas; ReportSource and Exsigno were added to the Consulting division; Deloitte acquired sustainability consultancy dCarbon8; and expanded its Risk and Security businesses through the acquisition of IM Global and Simulstrat.

Connolly commented: “We will continue to look for opportunities to bring in highly skilled people who enable us to offer increased range and depth of advice to a broader number of clients. Notwithstanding the continuing challenges facing all businesses, I am confident that Deloitte is well positioned for the year ahead.”

Among the key highlights of Deloitte’s contribution to the wider community during the year is its total contribution of nearly £10 million to the community, including more than 44,000 hours of volunteering and pro bono work.