Deloitte revenue breaks $1.5 billion as firm announces two new PNG partners and arrival of Deloitte Access Economics
28 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 Papua New Guinea
Deloitte Managing Partner PNG, Helen Hamilton-James, said: “The PNG market is a challenging one at present, but we continue to see significant opportunities in terms of helping our clients in areas such as financial advisory, buying and selling businesses, risk, training and consulting services.
“We continue to leverage off the 6500-strong Deloitte Australia practice, as well as our wider global network of member firms, meaning we are able to bring expertise into PNG to support our clients as needed across increasingly important areas such as economics, data analytics, forensics and fraud investigations and digital.
“We will be building our economics advisory capability shortly with the launch of Deloitte Access Economics in PNG in August. Economist Todd McInnes will join us in PNG from Sydney on a permanent basis and his expertise, along with his connections to his Deloitte Access Economics colleagues in Australia, will add another dimension to how we can support our private and public sector clients.
“There are significant opportunities in the infrastructure advisory space as we continue to work closely with our infrastructure advisory team in Australia on delivering local solutions for local clients across the many PNG infrastructure projects both underway and planned.”
Hamilton-James confirmed the promotion to partner of two of the firm’s top talent. “We are committed to building a strong and diverse local team to ensure we continue to push the envelope, embrace innovation and challenge both ourselves and our clients,” she said.
New PNG partners as of 1 July 2016 are:
- Lyndel Melrose – Consulting
Lyndel has been a key contributor to the PNG Consulting practice, particularly in the public sector human capital field.
- Mark Clarke – Deloitte Private, Solomon Islands
An audit and advisory specialist, Mark is Deloitte’s country director in the Solomon Islands office.
“In other leadership changes, Ben Lee recently took over leadership of our audit and assurance practice. Our current tax and business services group leader James Kruse will be focusing on assisting clients sell their businesses and business assets, continue to provide insolvency services, and take on a leadership role in our private sector advisory practice, and Andrew Harris has taken on the leadership of our tax and business services group,” Hamilton-James said.
The two new PNG partners are among 48 new partners in Australia and PNG, and 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 for Australia and Papua New Guinea, 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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