Deloitte, one of the big four accountancy firms, has announced a 7 per cent rise in UK revenues, returning to growth for the first time since 2008.
Sales in the year to May 31 rose from £1.95 billion to £2.1 billion, with the firm’s consulting and corporate finance divisions delivering the strongest growth of 13 per cent and 11 per cent respectively.
Auditing revenues jumped 4 per cent to £652m; the company’s tax division saw growth of five per cent, rising to £534m; consulting revenues grew by £517m; and its corporate finance arm saw its results boosted by 11 per cent to £395m.
Deloitte Chief executive and senior partner David Sproul said the past year had seen a “robust performance in challenging and competitive markets”.
But despite the sales growth, the average profit per partner fell by 13 per cent – from £873,000 to £758,000 – as the firm spent more on hiring new staff, increasing its headcount by 8 per cent over the year.
“We have placed a clear focus this year on putting the building blocks in place for the future success of our firm,” Sproul added.
“We are investing heavily in our people, graduates and new partners to broaden and deepen the range of expertise and services we offer our clients.