Deloitte UK has reported an 11% increase in
its annual revenues to £2.3bn in the year to 31 May 2012,
attributing to growth to strategic investments made.

The firm’s audit practice revenues were at
£663m, up 13%. This is a significant improvement from last years 4%
audit service fees increase.

Double digit growth, 14%, was also reported in
the firm’s consulting arm to £402m.

Tax revenues grew to £529m, up 7% and
corporate finance revenues increased by 6%.

Deloitte UK revenues also include fee income
of the network’s Swiss practice; those were up 21% to £211m.

Deloitte UK chief executive and senior partner
David Sproul said the firm took the decision last year to invest
heavily in people and skills, and new solutions such as Deloitte
Analytics and Deloitte Digital, in order to enhance and extend
client services.

“This investment in our business is reflected in the growth we have
achieved across our five business divisions and in all of the major
industry sectors in which we operate. We achieved particularly
strong growth in our consulting and advisory businesses working
with the UK corporate sector, and pleasing results in our Swiss
practice.”

The profits distributed to partners increased by 6% to £569m. The
firm said the average profit earned by each partner in the year,
after providing for pensions and annuities payable to retired
partners, was £789,000.

People

The Big Four firm increased its headcount by
8%, promoting 63 partners and hiring 43 direct new partners.

It also recruited 1,118 graduates and 38
school levers in the past 12 months.

Sproul said investing in skills and talent is
a signal of confidence and critical to supporting clients at a time
when the outlook for all businesses remains challenging.

“We will continue to build for the future,
creating an additional 250 entry level roles for graduates,
university students and school leavers in 2013,” he said.

Sproul flagged the role Deloitte has played as
the official professional services partner to the London 2012
Olympic and Paralympic Games.

Deloitte provided over 130 secondees and 200
advisory projects to the organising committee of the London 2012
and is said to have contributed more than 750,000 hours of
expertise to delivering the Olympic and Paralympic Games. 

The Big Four firm is the first of the Big Four
to announce its results for 2012 as PwC is expected to make their
announcement in September.