Deloitte announces record revenue of US$38.8 billion

Deloitte announces record revenue of US$38.8 billion

PR Newswire

LONDON, Sept. 14, 2017

Marking the eighth consecutive year of solid growth

Key highlights:

- All Deloitte businesses, industries and regions grew fueled by organic growth, strategic alliances, and acquisitions

- Over the last two years, revenue growth has averaged 8.3 percent in local currency terms

- Nearly 70,000 new hires; the equivalent of 1 person hired every 8 minutes  

LONDON, Sept. 14, 2017 /PRNewswire/ -- Deloitte Global today reported aggregate member firm revenue of US$38.8 billion for the fiscal year ended 31 May 2017 (FY2017), representing a 7.1 percent revenue increase in local currency terms or a US$2 billion revenue increase and 8.3 percent two-year CAGR.

As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

"Deloitte's revenue growth is attributable to two factors," said Punit Renjen, Deloitte Global CEO. "First, our multi-disciplinary business model continues to be a source of competitive strength. Second, clients have choices and they are increasingly choosing Deloitte to help them navigate change and reinvent themselves in a constantly evolving global business environment."

Growth across all businesses, industries and regions

With a continued focus on creating an impact for clients across all geographies and service areas, Deloitte achieved growth in each of its five business areas—Audit & Assurance, Consulting, Financial Advisory, Risk Advisory and Tax & Legal.

Among the industries driving Deloitte's growth in FY2017 were Technology, Media & Telecommunications and Consumer & Industrial Products; each grew revenue over 9 percent on a local currency basis.

Getting to the future faster

Increasing disruption, complexity, and the exponential speed of change has created unprecedented challenges and opportunities for clients. Deloitte's ability to integrate deep industry insights and experience with a broad range of professional disciplines, has allowed it to help its clients get to the future faster.

Deloitte's ability to orchestrate ecosystems and build alliances with leading digital innovators including Amazon Web Services, Facebook, HP, Oracle, and SAP enhance its ability to offer comprehensive solutions that address clients' toughest business transformation and technology challenges. Through these ecosystems, Deloitte helps clients identify potential disruptors, develop strategies to address disruption and execute on business transformation activities such as new services, products, business models, and markets.

Renjen added, "Deloitte continually builds on our capacity to deliver the depth and breadth of expertise, insight and quality our clients demand and deserve. As a result, Deloitte is a recognized leader in helping clients adapt and thrive in an intensely competitive global economy."

Investing in Transformation

Deloitte is making strategic investments in integrating transformational technologies and data analytics into its solutions and products across its businesses in order to drive greater value for clients. Examples of these investments in FY2017 include:

Building tomorrow's workforce, today

In FY2017, Deloitte increased its workforce in all geographic regions and businesses, with nearly 70,000 new professionals, an increase of 8 percent from FY2016 – the equivalent of 1 person hired every 8 minutes. Headcount growth was led by Asia Pacific among the regions at 10.4 percent, and by Consulting and Risk Advisory among the businesses, each with growth over 13 percent.

Also in FY2017, Deloitte advanced a number of initiatives designed to support the career development and personal well-being of its professionals, including:

"Deloitte professionals represent the workforce of the future: top talent with different life experiences, viewpoints and skill sets," said Renjen. "In creating an inclusive, collaborative, purpose-led culture, we inspire our people to make an impact that matters for each other, our highly diverse and sophisticated client base, and society."

In 2017, the Deloitte network continued to be recognized as a top employer globally through awards such as LinkedIn's Top Employers, The Times Top 50 Employers for Women, and Universum's 'World's Most Attractive Employer' award among others.  

A WorldClass solution for social impact

Deloitte recognizes that the greatest challenge to global economic growth, prosperity and social progress is lack of access to the fundamental building blocks of personal and professional success.

This year, to help address this challenge, Deloitte is intensifying its efforts to help expand access to career-building opportunities for communities and individuals left behind in the transformation to the Fourth Industrial Revolution.

"WorldClass" is a new global effort designed to apply Deloitte's skills, experience, scale, and commitment to preparing and empowering people to take advantage of the new world economy through access to education and training.

"Millions of people are not sufficiently prepared for the requirements of the new world economy," said Renjen. "There are already incredible efforts underway around the globe by Deloitte professionals to support education and skills development. WorldClass builds on their work helping create pathways for individuals to fulfill their personal and professional aspirations."

WorldClass builds upon the success of One Million Futures in the U.K., UNLEASH in Denmark, an initiative to support the United Nations Sustainable Development Goals, and Impact Day, a volunteering day which takes place across the world, among other initiatives. In FY2017, Deloitte professionals spent more than 1.2 million hours on pro bono service and volunteering in their communities, with more than one third focusing on education and skills building. Deloitte's overall contributions toward societal and community causes are estimated to be over US$200M.

Notes:

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. Please see www.deloitte.com/about to learn more about our global network of member firms.

Deloitte provides audit & assurance, consulting, financial advisory, risk advisory, tax & legal and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries bringing world-class capabilities, insights, and high-quality service to address clients' most complex business challenges. To learn more about how Deloitte's approximately 263,900 professionals make an impact that matters, please connect with us on Facebook, LinkedIn, or Twitter.

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