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Consulting growth drives Deloitte network to record FY14 revenues

Deloitte

New York: Deloitte member firms (Deloitte) have reported record aggregate revenues of US $34.2 billion for the fiscal year ending 31 May 2014 — on the back of strong growth from consulting.

In its fifth consecutive year of growth, Deloitte saw accelerated demand for its range of services in all regions of the world. The organization's aggregate revenues represent growth of 6.5 percent in local currency, or 5.7 percent in U.S. dollars.

Consulting, the largest business in the network, also showed the strongest growth globally in FY14, at 10.3 percent in local currency, driven by impressive performance in Strategy & Operations (10.5 percent growth), Technology (10.3 percent growth), and Human Capital (9.6 percent growth) service lines. The business experienced growth across all industries, led by a 26 percent increase in Life Sciences & Health Care revenues and double-digit growth in Energy & Resources; Public Sector; and Technology Media & Telecommunications.

Deloitte says its growth reflects its commitment to providing clients with high quality services through a multi-disciplinary model, delivering innovative solutions from strategy to implementation. Increasing client needs stemming from globalization and changes in business models, technology, and regulations are expected to drive further opportunities in the year ahead.

The network says it is also committed to the growth and development of its people, with more than 63,000 professionals receiving training via its Deloitte University curricula in the past fiscal year.

"By repeatedly forging new ground, Deloitte continues to stay ahead of the considerable disruption facing clients, our people, and the society in which we operate," said Barry Salzberg, Deloitte Touche Tohmatsu Limited CEO.

"Member firms remain sharply focused on their unique ability to address the specific needs of their clients through distinctive breadth of skills, deep industry knowledge and strategic investments, while bolstering trust in the marketplace, hiring and developing the best talent, and delivering value to society."

Global growth

  • Americas member firms led regional growth with an aggregate 7.5 percent in local currency; the strongest growth occurred in Spanish-speaking Latin America (14.1 percent) and Brazil (10.6 percent). The United States, the largest member firm in the network, produced particularly strong growth led by an 11.3 percent increase in Consulting.
  • Europe, Middle East, and Africa (EMEA) member firms grew by an aggregate 5.8 percent in local currency. In particular, Italy (11.5 percent), Germany (11.8 percent) and France (10.5 percent) demonstrated strong performance over FY13. Aggregate revenues for the sub region of Africa grew by 17.6 percent.
  • Asia Pacific member firms experienced combined growth of 4.9 percent in local currency, up from 3.1 percent in FY13. Japan was a key contributor to regional results at 5.1 percent growth, and India and New Zealand both grew in the double digits.

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