Global professional services giant Deloitte announced record revenue of $1.76 billion in Australia for 2017, the third year of 15% growth in a row.
Organic growth represented 88% of the rise in 2017 compared to 76% the year before, the result of a shift in the type of businesses Deloitte has been acquiring, moving from immediate revenue accretion to strategically aligned capability building.
“It’s no secret our profession, like many others, faces disruption and pressure on margins,” says local CEO Cindy Hook.
“By streamlining and automating aspects of our business delivery, investing in new models, and realising the benefits from prior investment decisions, our earnings growth is consistent with revenue growth.”
Deloitte’s highest growth areas include health care, financial services and the public sector.
The group has been steadily announcing acquisitions.
Those in 2017 included enterprise integrator SixTree, creative digital consultancy The Explainers, wealth management advisory specialists Morse Consulting, cloud-based marketer Cinder Agency, architectural illustration firm Kid Neon, strategic and financial advisors Torridon, network architecture partners Plenary Networks, and technology and managed services provider Strut Digital.
Deloitte’s financial performance resulted in 61 new partners, on top of 45 partners who joined the firm as lateral hires or through transactions over the past year.
“Deloitte has a strong record of investing in the professional development of its people and for promoting from its enviable talent pool,” says Hook.
“These new partners are the next generation of leaders in their fields and demonstrate our confidence in the future growth of the firm.”
Of the newly promoted partners, 25 are women, or 41% of the intake, up from 33% in 2016.
The overall female partner percentage at Deloitte is now 27%, up from 25% in 2016.
Globally, Deloitte reported revenue of $US38.8 billion ($A48.5 billion) for the year ended May, a 7.1% revenue increase.