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Deloitte revenues up 8% to $31.3b

Omar Fahoum, Chairman and Chief Executive, Deloitte Middle East

Deloitte Touche Tohmatsu Limited (DTTL) has announced aggregate member firm revenues of $31.3 billion for the fiscal year ending 31 May 2012, marking the network’s highest revenue ever.
Aggregate revenues grew 8.6 percent in US dollars and 8.3 percent in local currency—the strongest revenue increase since 2008. Deloitte member firms experienced growth across all three major geographic regions, led by exceptional results generated in Asia Pacific, the Americas, and a number of developing markets, as well as across all business lines and industry sectors.

“Complexity, disruption, and speed of change are the new reality for our member firm clients, and for Deloitte’s own business,” Omar Fahoum, Chairman and Chief Executive, Deloitte Middle East, said.
“Deloitte’s success this past year is the result of adapting business strategies to anticipate client needs and address the changing requirements of a dynamic market.”

Deloitte continued to focus on hiring, developing, and retaining top talent as a key driver of the expansion of business activity. In FY2012, the Network hired 51,400 professionals; its total workforce now exceeds 193,000 professionals worldwide and the organization is well on its way to achieving its growth goal of 250,000 professionals by FY2015.

In addition to the continued focus on hiring, and to support strategies to be recognized as one of the top organizations in the world for developing world-class leaders, Deloitte is investing heavily in leadership development globally. This commitment can be seen in Deloitte University, a $300 million learning and development facility located outside of Dallas, Texas, where Deloitte professionals come together to connect, share ideas, and identify and capitalize on new and innovative solutions to the most critical and complex issues facing global business today. More than 40,000 professionals from 70 countries attended Deloitte University over the last year.

“Deloitte has always been highly effective at attracting and retaining the world’s best talent in all our practices in the Middle East and worldwide,” Rana Ghandour Salhab, talent and communications partner, Deloitte Middle East, said.

“Given continued market uncertainty, increased regulation, and a competitive job market, it is of utmost importance that Deloitte stays ahead of the curve and develops its professionals so they are well equipped to serve clients.”

In FY2012, Deloitte extended its commitment to the Olympic and Paralympic movements by providing strategic insight and professional services to national Games committees. Deloitte professionals delivered services across the network’s full competency suite, in areas including organizational design, risk assessment, and sustainability.

In the past year, Deloitte served more than 75 percent of the Global Fortune 500, working with them to address some of their most complex business issues. In FY2012, Deloitte saw growth across all business lines and industries, with financial advisory and consulting experiencing 15 percent and 13.5 percent revenue growth, respectively.

“The growth across industry and business lines was achieved despite challenging market conditions around the world, particularly in Europe. Growth was largely driven by Deloitte’s ability to provide a consistent suite of tools across member firms, a cornerstone of its global strategy,” Deloitte in a statement said.

“To create value and growth, Deloitte combines a great foundational strength together with client insight and customization Fahoum, added. “Innovation and opportunity will define the year ahead, for both Deloitte and member firm clients.”

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Posted by on Oct 19 2012. Filed under Banking & Finance, Headline. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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