Deloitte continues strong momentum with 13% growth in FY 19
- Fifth successive year of double-digit growth
- 67 new partners, best ever female representation at 45%
26 June 2019: Deloitte Australia today reported revenue of $2.3 billion for the financial year ending 31 May 2019 (FY19), an increase of 13% over fiscal year 2018 and a notable fifth successive year of double-digit growth.
In his first year as Deloitte Australia CEO, Richard Deutsch commented: “It is another excellent year for Deloitte and is a reflection of the distinctive service we deliver to our clients.
“We have been unrelenting in bringing a sense of purpose to everything we do, whether it’s to our clients, our people or our community. We are proud of our contribution to help shape the issues of national importance and our market leading policies like our best in market parental leave changes. Our goal is to make an impact that matters and to be the undisputed leader in professional services and we remain on track to achieving this,” Mr Deutsch said.
“Our growth momentum in FY19 has been driven right across our advisory businesses. Additionally, audit has continued to grow at a double-digit rate. Deloitte remains strongly committed to the multi-disciplinary model.
“What is most evident is that when clients need solutions to help them thrive it is Deloitte who provides the answers, especially when it comes to significant transformation programmes, enabled by digital, cloud and technology. Our unique ability to integrate strategy, people, and technology continues to be one of our key differentiators. Growth has been especially strong in relation to our systems architecture, cognitive automation and robotic capabilities.
“There is also significant momentum in our transactions, risk analytics and cyber businesses as well as in key service offerings in human capital, tax and legal. In the wake of the Financial Services Royal Commission, demand remains strong for our conduct and remediation businesses. Deloitte Access Economics continues to influence some of the most important policy debates in the country and the recent release of our Building the Lucky Country report seeks to create debate on the skills opportunity and gap in Australia.
“It is pleasing to note that while the NSW and Victorian markets were the key revenue drivers, every market across the country helped contribute to our success in FY 19.
“We are seeing a strong demand from clients to work with them on their most complex and transformational issues. The formation of Deloitte Asia Pacific has enhanced our ability to serve our clients across Asia Pacific. This will drive further growth throughout Australia and Asia Pacific.”
In FY19, to build capability and further meet the needs of its clients, Deloitte made eight strategic investments via transactions. “Inorganic growth remains a key part of our strategy and we will continue to identify the right investment choices that both align and build on our capabilities to serve our clients,” Mr Deutsch said.
Deloitte Australia will admit 67 new partners effective 1 July following the promotion of 37 men and 30 women across the country. At 45%, this is the highest ever representation of new female partners. The new cohort takes partner numbers to 880, and includes promotions across every business unit and market. The firm also welcomed 72 lateral partners in FY19.
“These are our future leaders and demonstrates the firm’s commitment to helping our people succeed in whatever they choose to do. Combined with a record intake of 862 graduates in FY19, our firm now has 10,000+ staff, almost double where we were five years ago,” Mr Deutsch said.
“I’m proud of many of our other achievements this year including being named as one of the Top 10 companies in the Financial Review Most Innovative Companies awards, being named the 2019 Top 100 Graduate Employer, our 16th consecutive WGEA Employer of Choice for Gender Equality citation and supporting the Uluru Statement from the Heart. “Deloitte’s aim is to create an inclusive environment that enables everyone to be respected and bring their unique talents and skills to create diversity of thought. This is great for our people, our clients and the communities we live and work in.”