Deloitte achieves double digit FY08 growth
Date: 28-07-2008
Source: Consultant News
Deloitte Touche Tohmatsu (Deloitte) said that fiscal year 2008 aggregate member firm revenue increased by 18.6% in US dollars, and 13% in local currencies, to US$27.4 billion. This marks Deloitte's sixth consecutive year of US dollar double-digit revenue growth from continuing operations. Every service line and every geographic region delivered strong growth. Deloitte aggregate revenues were US$23.1 billion in FY2007.
In the past year, Deloitte grew by approximately 15,000 people with considerable growth in the emerging markets. Deloitte's firms in Brazil, Russia, India, and China have experienced 90 percent growth in the number of professionals in the past three years. Globally, Deloitte now has approximately 165,000 people operating in approximately 140 countries. The firm announced plans last year to grow its work force to 200,000 by the end of 2011.
Financial advisory services grew at 26.6% to US$2.4 billion, followed by consulting services at 22.2% to US$6.3 billion, tax and legal at 20.4% to US$6.0 billion, and audit at 14.8% to US$12.7 billion.
Asia Pacific led with revenue growth of 30.3% to US$3.2 billion, with every Asia Pacific member firm delivering double-digit revenue growth. Europe, the Middle East, and Africa increased revenue by 22.6% to US$11.3 billion, with CIS growing at 40.8%. The Americas improved revenues by 12.9% to US$13.0 billion, with Latin America and the Caribbean leading the region, with 22.4% revenue growth.
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