Deloitte revenue breaks $1.5 billion with record growth in Canberra
29 June 2016: Professional services firm Deloitte Australia has announced record revenue of $1.530 billion for the year ending 31 May 2016 (FY16). This is a 15% increase over the prior year ($1.336 billion) and the second consecutive year of double-digit growth, matching the 15% growth in FY15.
Deloitte saw double digit growth across the majority of its practices, with demand particularly strong for Consulting, Risk Advisory and Assurance & Advisory.
Deloitte in ACT
The firm’s momentum in the ACT market also remains strong, with its Canberra office recording 41% year-on-year growth.
Deloitte Canberra Managing Partner Lynne Pezzullo said: “In FY15 the addition of Analytics Group to our local team contributed significantly to our growth. In FY16 all of our growth was organic, via offerings including our new digital studio and public sector facing Restructuring and Infrastructure businesses, meeting the needs of government clients in areas such as health, defence, social services and education. The broadening global influence of Canberra-grown Deloitte Access Economics also continues to provide a very strong differentiator.
“The strong and profitable growth we have achieved has once again been in spite of the ACT’s challenging economic and political environment, which has seen public service cuts, machinery of government changes and the construction sector softening from previous peaks.”
Deloitte in Canberra has welcomed a number of partners to the firm in recent months:
- Hawari Badri – Forensic Risk Advisory
Hawari joins the Risk Advisory practice in Canberra to help strengthen the Forensic team. Prior to joining Deloitte she held a number of senior Federal Government positions.
- John Nguyen – Assurance and Advisory
John joins the Assurance & Advisory practice with over 20 years’ experience in both professional and financial services. He leads engagements in compliance, remediation, financial advisory and governance across the banking and government sectors.
- Tim Norman – Financial Advisory
Tim is leading the growth of Deloitte’s Financial Advisory practice in the Canberra market, providing commercial and financial advice and restructuring services to organisations requiring financial or sustainability reviews, options assessments and critical decision support.
Nationally, Deloitte has promoted 48 new partners, in addition to the 38 partners that joined the firm as lateral hires or through transactions over the past year.
Commenting on Deloitte’s national revenue result, CEO Cindy Hook said: “I am very pleased that our growth continues to significantly outpace GDP, and that we are maintaining our strong momentum. This result is a reflection of the value leading Australian businesses place on the services we provide.
“The rapid pace of change in the world today requires business leaders to strike a balance between delivering operating profits today, and investing in transforming their business models to enable sustainable growth and profitability in the future.
With 74% organic growth nationally, Deloitte will continue to invest in businesses that build or enhance its capability and service offerings. Transactions in FY16 included:
- Qubit, an identity security and management firm, that further strengthens Deloitte’s expertise in cyber security risk management
- Cloud Solutions Group, a specialist cloud consulting firm that builds Deloitte’s leading capability in technology infrastructure advisory services
- MashUp, a spatial design firm which has enhanced Deloitte’s customer practice through the ability to create seamless digital and physical customer experiences
- Engage Super, the largest SMSF audit specialists in the country.
Cindy Hook said: “We will continue to make considered, strategic investments that are adjacent to our capabilities and that better enable our clients to respond to the rapid changes affecting their businesses.”
The year ahead
“Looking to the year ahead, we are confident of continued growth,” said Cindy Hook. “We have developed a bold and innovative strategy to enable us to continue embracing disruption, develop new capabilities and enhance existing ones. We have a strong, people-centric culture, a unifying purpose and an enduring focus on providing our clients with diverse, multi-disciplinary teams to help solve their most complex problems.”
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Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 225,000 professionals, all committed to becoming the standard of excellence.
About Deloitte Australia
In Australia, the member firm is the Australian partnership of Deloitte Touche Tohmatsu. As one of Australia’s leading professional services firms, and winner of both the Australian Financial Review/CFO Audit Firm of the Year and Accounting Firm of the Year awards 2013, Deloitte Touche Tohmatsu and its affiliates provide audit, tax, consulting, and financial advisory services through approximately 6,000 people across the country. Focused on the creation of value and growth, and known as an employer of choice for innovative human resources programs, we are dedicated to helping our clients and our people excel. For more information, please visit Deloitte’s web site at www.deloitte.com.au.
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