Contact: Madonna Jarrett
Deloitte Touche Tohmatsu
Global Corporate Communications
+852 9686 1660
New York, November 30, 2004 — Deloitte Touche Tohmatsu today released its 2004 annual composite revenue results of its member firms, which show an 8.6 
percent increase. After excluding divested practices, revenue growth for the continuing businesses was 11.1 percent.
Composite revenue reported was US$16.4 billion compared with US$15.1 billion in FY03. For the first time ever, member firms from Europe/Middle East/Africa and Asia-Pacific/Japan contributed half of this, and member firm tax practices led the way with 60 percent growth in the last two years.
"2004 was the 11th consecutive year of aggregate revenue growth for Deloitte member firms. In a decade, Deloitte has transformed from being one of the smallest professional services organizations to being a leader, including a leader among the Big Four," William G. Parrett, Deloitte Global CEO, said today.
"Further, the mix of member firms' revenues clearly reflects Deloitte's multicultural and local market strength around the world. We are not a global American, European, or Asian firm, but an organization of local firms," he said.
With 2004 aggregate revenues of US$5.9 billion in consulting and advisory services capabilities, Deloitte member firms comprise, in aggregate, one of the three largest consultancies in the world. This capability is also a competitive strength.
Mr. Parrett said, "Only Deloitte member firms offer a full range of services to the market. We made a decision to keep audit, tax, consultative, and financial advisory services within our member firms. In order to do this, our member firms segment the market carefully and have reinforced internal procedures to meet stricter profession-wide independence requirements.
"This has proven to be the right course of action and has positioned Deloitte member firms for continued long-term growth on a global basis."
Deloitte is expecting similar aggregate revenue growth of its member firms next year, likely to be fueled by increased demand for corporate finance and transaction services (such as mergers and acquisitions and company reorganization services), forensic investigations, and consulting services. Deloitte member firms also will continue rapid expansion in key markets, such as China and India.
"Deloitte China and India will expand intensively, representing the most aggressive investment program of our member firms. This will not disappear in bricks and mortar, but will build our world-class capabilities — our people and the infrastructure to support them. In our business it is all about people and clients," Mr. Parrett said.
He concluded, "Deloitte member firms have approximately 50,000 people in each of the Europe/Middle East/Africa and Americas regions. By the end of the decade I expect the number of people in Asia-Pacific/Japan to equal these regions, creating a balance throughout the world."
> Learn about our inaugural Deloitte Touche Tohmatsu Worldwide Member Firms 2004 Review
> Order hard copies of the Deloitte Touche Tohmatsu Worldwide Member Firms 2004 Review
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, Deloitte delivers services in four professional areas — audit, tax, consulting, and financial advisory services — and serves more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.
As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names.
