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

24 September 2018 Consultancy-me.com

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.”

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BCG books global revenues of $7.5 billion with 19 percent growth

02 April 2019 Consultancy-me.com

Boston Consulting Group has booked its fifth consecutive year of double-digit growth, clocking global revenues of $7.5 billion last year.

Global strategy and management leader Boston Consulting Group has capped another busy year with record revenues of $7.5 billion. Starting 2018 off as The Boston Consulting Group prior to the completion of a visual overhaul and minor rebranding in December, the firm may have shed the ‘The’ but it’s managed to add more than $1.2 billion to its 2017 take – to be up by a huge 19 percent at constant rates.

The fifth consecutive year of double-digit growth for BCG – jumping from the 11 percent rise for the prior financial year – the firm noted strong growth across all regions and in both industry and functional areas, with its digital offering doubling in size to contribute significantly in around one third of its revenues across regions and practices. The firm stated that digital will continue to be a priority focus.

“The capabilities of our talented and diverse workforce, and our investment in innovation and cutting-edge solutions for our clients are at the root of our consistently strong performance,” said BCG CEO Rich Lesser. “At our core, we remain focused on the quality of our work, our long-term client relationships, and our commitment to driving large-scale positive change consistent with our values and purpose.”BCG books global revenues of $7.5 billion with 19 percent growthOver the past two years, the firm has also added around 4,500 employees across its locations in over 50 countries worldwide (including Omar Alshogre, an ex-political prisoner in Syria now employed at BCG in Sweden) – with the net 2,500 rise last year pushing the firm’s headcount out to 18,500-plus. BCG also added further capabilities last year, continuing with the recent acquisition of Australian data simulation company TSG.

“At the core of our business and our organisation is close collaboration – among our employees at all levels and with our clients. Working together, our people continually challenge themselves and their colleagues to develop and implement innovative new approaches, said Lesser. “As we look towards the next decade, we are deeply committed to ensuring that our clients are well-equipped to meet the challenges and opportunities of a fast-changing world.”

Meanwhile, the firm continues to give back to the region through its corporate social responsibility initiatives, including last week having hosted the launch event for its local Jeel Tamooh programme, which seeks to develop and inspire the next generation of business leaders in Saudi Arabia. Altogether, one hundred of the brightest local graduate students will participate in the training and mentorship programme.

“BCG recognises the value of personal development as a critical enabler of future success. We seek to attract talented individuals, and will empower them to learn and grow,” said BCG Middle East managing director Joerg Hildebrandt. “Jeel Tamooh is testament to our mission to support the positive development of societies we work in. As a global firm, we will share best practices and industry-leading knowledge, to prepare the enrolled students to thrive in a fast-changing world.”