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August 12, 2013

Deloitte UK revenues up 8%

Deloitte UK has increased its revenues by 8% to £2.5bn (USD3.8bn) in the year to 31 May 2013.

The firm reported growth across all its service lines with advisory services fee income increasing by 14%, audit by 12%, tax by 6% and corporate finance by 1%.

Deloitte UK’s earnings stemmed mainly from audit services, with £742m in fees, followed by tax and advisory, reporting £563m and £534m in fees, respectively.

Profits distributed to partners were down 2% from last year at £772,000 per partner.

Deloitte UK recruited 3,000 people last year.

Deloitte UK chief executive David Sproul said: "This is a strong performance for our firm given the continuing challenging economic environment. We continue to make significant investments in the business, including a new pension scheme for our people which has attracted an additional 2,500 members. We have also invested in the breadth and depth of expertise we offer our clients, such as through the acquisition of strategic consulting firm, Monitor, and this is reflected in the growth we have achieved across our business."

Deloitte global acquired strategy consulting firm Monitor in January 2013.

Deloitte UK revenues include the network’s Swiss practice, which earned £208m in fees.

Deloitte’s growth was slightly lower than in fiscal 2012 when revenue increased by 10% to £2.1bn, making it the second largest firm in the UK.

In 2012 PwC ranked as the largest firm by fee income in the UK with revenues of £2.4bn.

Related linkDeloitte UK

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