Deloitte revenue breaks $1.5 billion as firm announces three new Tasmanian partners
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 Tasmania
Deloitte Tasmania Managing Partner Carl Harris said: “Our national and local results are enabling us to position ourselves for growth and invest in local talent, and we are delighted to announce three new partners.
“Our local practice delivered a very pleasing result that improved on 2015. Hobart performed strongly in line with the economy, and our Launceston office performed solidly also.
“The general feeling around the state continues to be one of confidence, although there are clear differences across our major population centres.
“First and foremost, it is an exciting time in Tasmania, and a lower Australian dollar, stable government and our close relationship with China’s transition into consumerism are currently playing to our strengths.
“Deloitte employs 100 Tasmanians, and we are making a real difference for our clients and their management of the issues they are facing. The likes of conduct, cyber, cloud migration, project delivery and disruption are all presenting challenges for organisations in Tasmania, as well as on the mainland, and we continue to strive to enhance their ability to act, help them grow and succeed and, ultimately contribute to a prosperous local economy.
“We take particular pride in supporting local talent and diversity, and being a training ground for leaders that push the envelope, embrace innovation and challenge our people and our clients to be disruptors rather than disrupted.
“Forty per cent of our partners locally are women, and gender diversity at the leadership level is something we are very proud of. Our progress has been tremendous, but our diversity agenda journey is also far from over.”
New Tasmanian partners as of 1 July 2016 are (both based in Launceston):
- Stuart Dare – Deloitte Private
Stuart leads Deloitte’s audit practice in Launceston and has a deep understanding of the northern Tasmanian market, a strong background in the mining sector and a track record in providing advisory services
- Travis Anderson – Deloitte Private
Travis leads Deloitte Restructuring Services in Launceston and is recognised in the market for his strength in working with distressed and poorly performing businesses.
In addition, Deloitte in Tasmania also welcomed one other lateral hire partner, in Hobart, in recent months:
- Shelley Brooks – Deloitte Private
Shelley leads the firm’s Hobart Restructuring Services practice. She has extensive experience in corporate and personal insolvency and a broad range of experience across agriculture, hospitality, construction, transport, forestry, and retail.
The two new Launceston partners are among 48 new partners nationally, and in addition to the 38 partners that joined the firm as lateral hires or through transactions over the past year.
The national result
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.
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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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