Deloitte’s record year as a new era begins

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Deloitte’s record year as a new era begins

Fourth successive year of 15% revenue growth

13 July 2018:  Deloitte Australia today reported another year of significant financial success under CEO Cindy Hook as she prepares to leave the Australian firm for a new role to unite the professional services firm across the Asia Pacific region.

Deloitte’s FY18 revenue in Australia was $2.013 billion, a 15 percent increase on FY17, and the fourth successive year of 15 percent revenue growth.

“It’s the pleasing outcome of a clear strategy developed over three years ago to understand where the market is going, make the right strategic investments and build the right capabilities to solve the complex problems of our clients,” said Ms Hook.

“I truly believe we provide a more contemporary, relevant service offering and our multi-disciplinary approach is the best in the market. We collaborate with our clients, we focus on building new business models and we create a different experience for our clients and our people.”

Deloitte’s revenue growth was achieved in each of its six key business units and from all of its Australian offices.

“Our Consulting practice continues to be the powerhouse of the firm, and we are also winning and retaining the audit clients that matter while strongly growing our Risk Advisory and Tax practices. We are market leaders on the issues that matter most to our clients including digital transformation, regulatory change, the future of work and conduct which includes remediation, trust and reputation.’’

“I’m immensely proud of the depth and skills within our firm and the amazing work we do; such as placing an economic valuation on the Great Barrier Reef where robust economic analysis and data modelling combined with our creative design, animation, and messaging won two prestigious Cannes Lions awards – a first for our professional services firm,” said Ms Hook.

Investments

Deloitte continues to invest in inorganic growth to enhance its service offerings and has a pipleine of further transactions anticipated in fiscal year 2019. Transctions this year included:

  • Nesoi Solutions

Concur® services and implementation

  • JK Vine

Technology platform engineering

  • CBIG Consulting APAC  

Business intelligence & data analytics

  • ACCSR

Corporate social responsibility

  • Well Placed Cactus

Interactive developers


United, but unique

From September Ms Hook will become Chief Executive Officer of Deloitte Asia Pacific. Deloitte has announced that Australia, China, Japan, New Zealand and Southeast Asia are coming together to create Deloitte Asia Pacific. This move will allow for greater investment and more seamless client service for clients in Australia, across the Asia Pacific region and around the world.

Together, the Asia Pacific alliance expects to make an additional investment of US$321m across the five geographies over the next three years. The investment will enhance Deloitte's ability to serve global, national and private market clients by enhancing service capabilities and increasing talent resources. The new structure will come into effect on 1 September 2018, and the five geographies collectively will have 44,500 professionals, with the potential to create a US$10b business by 2022.

Announcing Deloitte Asia Pacific, Cindy Hook, said, "This is an exciting move for Deloitte in the Asia Pacific region – the fastest growing region in the Deloitte network. With the formation of Deloitte Asia Pacific we create an opportunity to increase our scale in this market, while enhancing our capabilities to serve clients. The investments we are making will allow us to better serve the needs of clients who are operating in a more globally connected way than ever before, and to continue our relentless focus on quality."

"The increased investment will also support our growing teams of professionals, equipping them with the resources to deliver first-class service to clients, while also providing immense career development opportunities to help us to attract, develop and retain the very best talent the region has to offer. Our aspiration over the next few years is for Deloitte Asia Pacific to become the undisputed leader in professional services in the region."

Punit Renjen, Deloitte Global CEO, added, "The creation of Deloitte Asia Pacific lays an important foundation as we place a high strategic focus on this region. Importantly, this increased scale in Asia will enable Deloitte to take full advantage of our strengths while offering differentiated services, accelerate capabilities in innovation and quality, and serve clients and the public interest with distinction."

Globally, Deloitte has more than 264,000 professionals at member firms delivering services in audit, tax, consulting, financial advisory, risk management, and related services in more than 150 countries and territories. Revenues for the fiscal year 2017 were US$38.8b.

A new CEO for the Australian firm is expected to be appointed by August.

Media Contact

Tony Ritchie
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T: +61 2 9322 7159
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