View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 17, 2013

Deloitte posts 3.5% global growth

Deloitte grew 3.5% globally in the year to 31 May 2013 posting $32.4bn in revenues.

All regions grew in fiscal 2013, with the America’s seeing the largest growth, at 5.7% to $16.4bn, meaning this region contributed 50.5% of Deloitte’s revenue.

Deloitte said the US contributed 80% of this, and North America in total grew 6.2%, generating $15bn.

Deloitte’s next biggest market, Europe, grew by 2.2% to 10.3bn, though Deloitte noted that UK revenues grew by 8% in this period.

The Middle East grew by 12.7% to $0.3bn, and Africa grew by 4.5% to $0.6bn. The Asia Pacific region reported the smallest growth, at 0.2%, to $4.9bn.

Although growth came across all business lines, consulting experienced the largest growth, at 7.1%, to $10.4bn, followed by financial advisory, at 4.7%, to $2.8bn.

Tax and legal grew by 3.8% to $6.1bn, while audit and enterprise risk services grew 0.5%, to $13.1bn.

Deloitte said the strengthening of the dollar towards the end of the year kept the growth rate down, and growth rates in local currency stood at 5.6% for the year.

The firm hired 51,400 professionals in the year, bringing their total workforce to more than 200,000 compared to 193,359 in 2012.

It also reported making nearly 30 acquisitions, incjjluding strategy consulting firm Monitor, and the firm said acquisitions will remain a priority to Deloitte’s business strategy in fiscal 2014.

Commenting on the figures, Deloitte global chief executive Barry Salzberg said the firm has made "strategic investments in important markets, the right businesses and talented people."

Last year Deloitte was the second largest global firm, with $31.3bn in revenues; behind PwC, which earned $31.5bn and is yet to release its international results.

Related article

IAB World Survey 2013: A profession adapting to a changing world

Related link

Deloitte

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to International Accounting Bulletin