Accountancy Giant Announces Rise In Revenue

Fri, 31 Aug 2007

Deloitte has announced a surge in revenue to just over £1.8 billion – a 15.6 per cent increase from last year’s figures.

The giant firm today announced its profits had risen by 17 per cent to £572m from 2006, with a huge growth in tax revenues (19.2 rise) largely behind the improved resuts.

The surge saw chief executive John Connolly's annual pay soar to £4.6m - a 12 per cent rise, while average profit per partner at the firm reached £877,000.

Connolly said: "A changing tax environment with increasing focus by tax authorities and tax payers on the accuracy, efficiency and timeliness of tax reporting saw exceptional growth in our tax management consulting service line."

"The recent actions by the UK government to address UK business tax competitiveness is driving significant activity amongst our international clients focusing on the tax efficacy of their global operations."

He continued: "Our specialist teams advising private equity, infrastructure and real estate clients benefited from their exceptional reputation in a very active segment."

In addition, the firm’s audit and corporate finance sectors also experienced strong growth of around 15 per cent, while its consulting arm grew by just under 13 per cent.
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