Deloitte sees revenues lift

DELOITTE Touche Tohmatsu, one of the largest accountancy firms, saw global revenue hit $26.6bn (£17.2bn) in 2010 as the group sets its sights on significant expansion plans.

Global revenue for the firm, which is part of the Big Four group of accountants, marked a 1.8 per cent rise on the previous year when income came to $26.1bn.

Deloitte said the rise was a result of increased business volumes during the year ending 31 May 2010, and came despite the fact the firm’s rates were constrained by the challenging economic conditions.

The firm’s figures were boosted by a higher turnover in its consulting business, which saw revenue increase by almost 15 per cent to $7.5bn. Consultancy makes up 28 per cent of Deloitte’s revenue stream.

Meanwhile, Deloitte’s auditing business, which accounts for 44.2 per cent of the group’s entire business, posted a decrease during the year.

Auditing income came to $11.7bn, marking a 1.4 per cent drop on 2009.

Jim Quigley, chief executive of Deloitte Touche Tohmatsu, said he was optimistic that Deloitte member firms will continue with the solid growth into 2011.

He said: “This dedication, along with our strong focus on integrity and sustainable, responsible business practices, will continue to be critical to our future success.”

Meanwhile, Deloitte has unveiled plans to substantially grow its headcount globally over the next five years. Deloitte said it intends to recruit 50,000 workers over the next five years as it looks to expand its geographical reach and services. The accountant employs 170,000 people globally.