Deloitte Members Predict $18B in Revenue in 2005

Gathering here for their annual world meeting, 250 leaders from the member firms of Deloitte Touche Tohmatsu said that they expected the firms' aggregate revenues to hit $18 billion, with growth of more than 10 percent for fiscal year 2005.At the meeting, held earlier this month, Deloitte CEO William G. Parrett noted that this was the member firms' twelfth year of aggregate growth, adding, "The growth has been the direct result of the increased demand for services: Simply, it is a case of increased service hours across member firm markets."The firms said that audit and enterprise risk services had seen the strongest growth, at 15 percent, followed by financial advisory services and consulting growth, at 9 percent each. Parrett took the consulting growth as a sign that keeping its capabilities in that area "was the right strategic decision for Deloitte." Growth was particularly strong in the Asia Pacific/Japan region, at 15 percent, led by expansive growth in China. The Americas and Europe/Middle East/Afria regions saw 10 percent growth each. The firm leaders also considered a number of strategic scenarios during the meeting, including key competitor moves, major legal developments that could impair current business models and heighten risk, and new regulatory developments.