Middle East region helps drive record Deloitte revenues of $43.2 billion

24 September 2018 Consultancy-me.com 3 min. read
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Deloitte has achieved record global revenues of $43.2 billion over the past year, with its Europe, Middle East, and Africa division the stand-out performer with 15.9 percent growth.

With year-on-year growth of 11.3 percent across all operations and regions, Deloitte has confirmed its status as the biggest of the Big Four by breaking the $40 billion barrier mark for the first time, recording monumental global revenues of $43.2 billion for the year to the end of May. A significant contribution came from its Europe, Middle East, and Africa EMEA region, which grew at a staggering 15.9 percent.

Altogether, EMEA pulled in revenues of 14.5 billion, ahead of Deloitte’s second highest growth market of the Asia Pacific (11.3 percent), which generated earnings of $6.6 billion. The Americas continued to lead all other regions to bring over half of the year’s overall total ($22.1 billion), with the 8 percent growth an upturn on last year. Across it operations, 2018 marked Deloitte’s ninth consecutive year of growth.

In tandem with the firm’s growth in revenues was a burgeoning global headcount, with an 8.4 percent increase in numbers over the past year and 77,000 new faces taking its tally to some 286,000 professionals worldwide. The boost in capacity also saw 676 employees admitted to the firm’s partnership ranks, including 196 in the EMEA region, along with the 238 in the Americas and 242 new partners in the Asia Pacific.Middle East region helps drive record Deloitte revenues of $43.2 billion

While all of Deloitte’s service lines achieved growth over the past year, the leading driver was the firm’s consulting division, which recorded an outstanding revenue increase of 15.7 percent – powered by Industry 4.0 technologies and the business imperative for digital transformation. With strong results in each of its core areas – Technology, Strategy & Operations, and Human Capital – Deloitte’s consulting line raked in $16.5 billion worldwide.

In terms of growth, following its consulting division was Risk Advisory, which grew by 12 percent to contribute $5 billion of Deloitte’s 2018 revenues, driven by the increasing business need for Cyber, Financial, and Operational Risk advice, while its Audit and Assurance ($10.2 billion), Tax & Legal ($7.9 billion) and Financial Advisory ($3.6 billion) divisions all recorded growth rates of between 7.7 and 8.7 percent.

As to industries, the largest growth for Deloitte over the past year has been in the Financial Services ($11.9 billion) and Technology, Media & Telecommunications ($5.2 billion) sectors, with business up by over 12 percent for both. The biggest contributor was again the Consumer and Industrial Goods sector, bringing in $13.5 billion, while the Public Sector, Life Sciences, and Energy divisions each contributed between $5.5 billion and $3 billion.

Describing them as exceptional, Deloitte Global CEO as Punit Renjen said; “These results reflect Deloitte’s unrelenting commitment to serving clients with quality and distinction while embracing important public-interest responsibilities,”,. “Over the past year, we have increased strategic investments in the capabilities and services most sought-after by clients in the fastest-growing markets in the world.”