Deloitte increased its global revenue by 15 per cent in the past year, as new work advising companies on their environmental impact and auditing their ESG data helped offset a sharp slowdown in advice on mergers and acquisitions.
Figures released on Thursday showed the firm extending its lead as the largest of the Big Four professional services giants, with revenue of $64.9bn in the year to May 31.
They also showed that a hiring boom across the sector has not entirely fizzled out, even as firms including Deloitte have laid off thousands of staff in underperforming parts of the business. Deloitte’s workforce increased 11 per cent over the 12 months, to 457,000 globally.
While tech consulting slowed from the heady pace in the wake of the coronavirus pandemic, companies are still upgrading their IT and digital services, Deloitte said, and it has started selling AI and metaverse services as well. The firm’s largest business, consulting, continued to be its fastest growing, posting revenues up 19.1 per cent in local currency, to $29.6bn. (...)
EY’s chief executive Carmine Di Sibio has previously disclosed that it expanded revenues by just over 14 per cent globally in its fiscal year, which ended on June 30, to just under $50bn. It is expected to publish fuller figures next week, with PwC following next month and KPMG later in the year. (...)