Deloitte FY2007 Revenue up by 15%

Date: 16-10-2007
Source: Reuters News

Global accounting firm Deloitte Touche Tohmatsu [DLTE.UL] said on Tuesday revenue at its member firms rose 15.5 percent in its fiscal 2007, spurred by growth in its financial advisory services and Asia Pacific region.

Revenue rose to $23.1 billion in the fiscal year ending May 31 from $20 billion in 2006. Excluding the benefit from the weaker dollar, revenue rose by 12.6 percent.

Much of the growth was due to a 25.2 percent growth in the firm's financial advisory services business to $1.89 billion.

Revenue at its consulting and tax services each grew 16.5 percent to $5.19 billion and $4.98 billion respectively. Revenue at the firm's audit services division grew by 13.1 percent to $11.08 billion.

Regionally, Deloitte's Asia Pacific region was the fastest growing, increasing revenues by 17.2 percent to $2.46 billion. The firm's Europe-Mideast-Africa region rose by 12.6 percent to $9.18 billion, while its America's region increased by 11.9 percent to $11.49 billion.

In a statement Deloitte's global chief executive James Quigley said he intends to boost the firm's workforce of about 150,000 by an additional 50,000 over the next four years.