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Deloitte’s global revenue grows by 11.3%

Deloitte’s global revenue increased by $4.4bn (11.3%) to $43.2bn for the fiscal year ended 31 May 2018.

All of Deloitte’s service lines – audit & assurance, consulting, financial advisory, risk advisory, and tax & legal – grew during the period.

Consumer and industrial products was the top industry contributor with $1.3bn revenue gained from FY2017 to FY2018.

The firm said some of the main industries driving its growth in FY2018 were technology, media & telecommunications, and financial services, which all grew revenue more than 12% on a US dollar basis.

The EMEA region was the fastest growing region with revenue growth rate of 15.9%, followed by Asia Pacific at 13.3% and the Americas at 8%.

Of its service lines, consulting revenue grew fastest at 15.7%, with double digit growth in each core capability area: technology, strategy & operations, and human capital. This growth extends more 10 years of double digit growth for the firm’s consulting arm.

Risk advisory had the second highest revenue growth at 12%, which the firm said was fuelled largely by growth in cyber, financial, and operational risk.

The firm noted that clients demand for geopolitical risk services was particularly high in adapting to the impacts of Brexit.

Deloitte’s global CEO Punit Renjen said: “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.”

Increase in headcount

Deloitte increased its headcount by 77,000 (8.4%) to approximately 286,000.

Growth was led by Asia Pacific at 11.6% and for services it was led by consulting at 14.7%.

The firm promoted 676 professionals to partner, which is a 19% increase from FY2017. Asia-Pacific saw the largest share, with 242 professionals promoted to partner.

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