Member Article

Deloitte report strong revenues in Northern England

Auditors Deloitte have dodged the economic downturn having reported a successful year in Yorkshire and the North East.

Revenues of up to £85 million in the northern regions and consistent growth across all their business divisions mean a positive 12 months for the Big Four company in its financial results.

Deloitte have invested in 88 additional graduates and school leavers this year, and brought in five new partners and 6 directors.

Martin Jenkins, Practice Senior Partner for Yorkshire & North East,commented: “This has been another robust performance in what continues to be an uncertain economic environment.

“Business has a vital role to play in leading a new era of wealth creation and we will continue to work closely with our clients to help them address the challenges they face but also to encourage them to seize the opportunities the current environment presents.”

Paul Feechan, office senior partner for Deloitte in Newcastle said: “The Newcastle office has had a strong year, growing our client base which includes Northumbrian Water, Balfour Beatty, British Engines and Huntsman, as well as being involved in many of the major deals that have taken place in the North East over the past 12 months.”

The Olympic sponsor announced an 11% increase in annual revenues up to £2,329 million nationally.

Deloitte’s business section also performed well in each division. Audit increased by 13% to £663 million, Tax grew 7% to £529 million and their Swiss division by a substantial 21% to £221 million.

Jumps in revenue have caused the company to feel highly optimistic for the future. David Sproul is the CEO and senior partner of Deloitte.

He commented: “At Deloitte we are focussed on how we can help corporate Britain unlock opportunities to meet near-term growth targets and put UK living standards back on track.

“For instance, we are working with a number of clients to leverage their balance sheets as a way of helping smaller firms in their supply chains find the capital to invest.”

He also said: ““I believe it is time for business to step forward. UK corporate cash reserves of some £750 billion; low levels of public trust in big business; an eastward shift in global demand; and record levels of public and personal debt all point to the need for a recovery that has to be corporate-led.”

This was posted in Bdaily's Members' News section by Miranda Dobson .