Deloitte reported a revenue increase of 9.5 percent across its international network, for a total of US$36.8 billion in the fiscal year ending May 31, 2016.
The results represented Deloitte’s seventh straight year of revenue growth, while the growth rate of 9.5 percent was the highest in a decade. The firm saw growth in all five of its main businesses: audit, consulting, risk advisory, financial advisory, and tax & legal.
Growth was highest in Deloitte’s risk advisory practice, which increased 22.5 percent, thanks to demand for cyber and regulatory services. Deloitte’s consulting business grew 10.8 percent, while Deloitte Tax & Legal grew 10.0 percent in FY2016, the highest rate since FY2008. Deloitte hired 71,800 employees in fiscal 2016, growing the firm’s headcount 8.5 percent to 244,400 employees around the world.
Deloitte also spent $650 million on capital investment. It opened its fourth Deloitte University campus, this time in Singapore. The firm also set up a Financial Services Blockchain Lab in Ireland, created a Financial Crime Strategy & Response Network for financial institutions, and established a network of Cyber Intelligence Centers around the globe. In addition, Deloitte invested $200 million in various community and society initiatives.
“Deloitte’s growth last year is a reflection of the tangible value and high-quality professional services we provide to our clients,” said Deloitte Global CEO Punit Renjen in a statement. “Deloitte takes pride in helping clients succeed in a global business environment marked by volatility and digital disruption and in our role as stewards helping ensure the proper functioning of global financial markets.”
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