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EY reports 6% growth in global revenues

EY has announced global revenues of USD $31.4bn for the financial year ending 30 June 2017, up 6% from FY 16 figures.

Transaction advisory services grew 15.5% due to an increase in digital services, business advisory and capital transactions. Also advisory grew 10.4%, tax grew 7.9% and assurance grew 4% respectively. Overall headcount of EY staff has increased by 13% from 230,800 last year to 250,000.

Overall growth was attributed to the expansion of innovation centres and investments in digital transformation, analytics, artificial intelligence and robotics. EY said in a statement that they are currently using 1,100 robots to support clients and businesses.

EY stated that this is their seventh consecutive year of strong growth, and that this year they have made 13 acquisitions and 6 global alliances to expand resources and capabilities particularly in the areas of digital, cyber, analytics, supply chain and strategy. EY are planning to expand with the use of drones in inventory observation and digital audit capabilities.

EY CEO Mark Weinberger said: “In this disrupted and fast-paced world, clients are [seeking] advice and insights on how to better manage risk, where to seek growth and how to weave digital into their strategies and operations. Significant investment in people and new technologies has allowed us to respond to the dynamic environment.”

EY saw the most growth in the Asia Pacific region of 11.3%, and in Europe, Middle East, India and Africa (EMEIA) EY achieved 8.6%, and in the Americas 7%; while Japan was marginally down by 2% over FY16.

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