Deloitte reports on business performance in the UK for the year ended 31 May 2009 |
- Net revenues (billings excluding client disbursements) of £1.7 billion were at the same level as in the previous year. Gross revenues at £1.97 billion were 2% lower than in 2008.
- In the Audit and the Consulting divisions, we had net revenue growth of 7% and 3% respectively, whilst net revenues were down 7% in Tax and 9% in Corporate Finance.
- The net profit distributable to partners was £601m, down 6.1% on the previous year. The average profit per partner fell by 7.5% to £883,000.
- The number of people employed by the firm in the year averaged 11,500, 1.7% higher than the prior year. The total compensation paid to each employee increased on average by 5.4% per person.
- At 31 May, the partners were providing £726m to fund the business which averaged £1.1m per partner.
John Connolly, Deloitte Senior Partner and Chief Executive, commented:
“Overall business performance was satisfactory in extremely tough markets. Supporting our clients has been our absolute priority and we have placed particular emphasis on bringing a broad range of skills to clients faced with a range of increasingly complex challenges. Many clients have benefited from our ‘Winning. In Challenging Markets and Beyond’ approach.
“Alongside our service to clients, Deloitte is proud to have extended its contribution to the community this year. Our support for the London 2012 Olympic and Paralympic Games is undiminished and we launched an innovative second Deloitte Ignite festival with the Royal Opera House. Our environmental leadership included participation in the pre-Copenhagen climate change meeting of Nobel Laureates.
“Looking forward, we anticipate only a fragile and slow recovery, and our success will continue to be the product of our exceptionally talented people being relentlessly committed to our clients, to market leading, innovative service and to an obsession with quality.”
Notes to editor:
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In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu (‘DTT’), a Swiss Verein, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk\about for a detailed description of the legal structure of DTT and its member firms.
The information contained in this press release is correct at the time of going to press.
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