Deloitte Announce Fall In Gross Revenue

Tue, 04 Aug 2009

Deloitte, one of the Big Four global accounting firms, has reported a drop in gross revenue for the last financial year.

John Connolly, the firm’s chief executive and senior partner, said tough market conditions were to blame for the 2 per cent slump in total revenue, resulting in net takings of £1.7 billion for the year.

Deloitte’s revenues were down 7 per cent in tax and 9 per cent in corporate finance, although its audit and the consulting divisions did manage to achieve growth of 7 per cent and 3 per cent respectively.

Connolly explained: "Overall business performance was satisfactory in extremely tough markets."

"Looking forward, we anticipate only a fragile and slow recovery, and our success will continue to be the product of our exceptionally talented people being relentlessly committed to our clients, to market leading, innovative service and to an obsession with quality."

Deloitte announced its partners will receive a share of £601m this year, down 6.1 per cent on last year’s payout, with the average profit-per-partner falling 7.5 per cent to £883,000.
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