Deloitte Australia breaks through $1 billion mark

20-Jun-2012 - Professional services firm Deloitte Australia has broken through a billion dollars after announcing annual revenues of just over $1.1B for the year ending May 31 2012, an 18% increase over the previous year.

Deloitte Australia breaks through $1 billion mark

Professional services firm Deloitte Australia has broken through a billion dollars after announcing annual revenues of just over $1.1B for the year ending May 31 2012, an 18% increase over the previous year.

The firm also announced it will be promoting 45 new partners, effective 1 July 2012. Coupled with the 16 experienced lateral hires that Deloitte has recruited during the past year, there will be 61 new Deloitte partners by 1 July.

Giam Swiegers, Deloitte CEO, commented: “We’ve continued to grow our revenues consistently this year, but what excites us far more is the nature of the work we’re doing to generate that momentum. Our growth is a consequence of bringing our business and government clients the solutions they want, and of helping them deal confidently with increasingly complex, sophisticated challenges.

“We’re delighted that our investments in analytics, technology, economics and other areas in recent years correctly anticipated the market’s growing appetite for these skills, and that our integrated capability as a firm today is serving our clients’ interests well in a rapidly changing, multi-speed economy.”

By 1 July the Deloitte partnership will include more than 520 partners and 4900 staff (FTEs).

“Our investment in partner talent clearly demonstrates our confidence in the Australian economy despite the current volatility in Europe, and our commitment to our 2015 strategy to grow the firm,” he said.

“We’ve had a good year, and made some good choices including investment decisions in our consulting and advisory practices, our data analytics practice, training our people in design thinking within our innovation program, the global rollout of our highly successful online consulting business Deloitte Digital, and our continuing investment in growing our audit and Deloitte Private practices.

“As a firm we have also made the choice to continue to invest in attracting and retaining our people, at a time when others have demonstrated less confidence in the face of tightening economic conditions, and taken a different course.”

Deloitte continues to build on the momentum generated by its game-changing acquisitions in early 2011, with teams of the calibre of Access Economics plus significant infrastructure advisory capability continuing to assist clients across the private and public sectors and State and Federal Governments. “The structural changes in our multi speed economy are driving increasing demand for macro and microeconomic information and analysis as well as consulting and advisory services, as organisations focus on strategic decision making, the implementation of complex change programs and the need to shape public policy,” said Swiegers.

“Financial Services, Energy and Resources and the Public Sector continue to be the key industry sectors for the firm, although we are seeing significant activity in the Telecommunications, Media and Technology and Property and Tourism sectors driven by digital disruption, the high Australian dollar and changing business models.

“Our audit practice has also benefited from an influx of new clients, such as Leighton Holdings, Incitec Pivot and Sigma Pharmaceuticals,” he said.

Deloitte Chairman Wayne Goss said: “Deloitte continues to transform itself, having built a successful and different professional services firm by offering its clients a more diverse portfolio than its competitors and its people more secure opportunities for career development that are both challenging and different.”

Regionally

All geographies featured strongly in the new partner promotions, recognising both the opportunities and risks of the multi speed economy.

“Deloitte Access Economics’ recent Business Outlook and Budget Monitor continue to highlight the conflicting trends across the economy with the resource and infrastructure sectors performing strongly. With almost 25% of our new partners from Brisbane and Perth, our strategy reflects this growth in the wider economy,” said Swiegers.

“With the need to develop competitive strategies and best practice execution, the biggest cohort of promotions came from our consulting practice. Deloitte has the largest consulting practice in the country and continues to see solid growth in the year ahead.

Women also feature strongly in this year’s round of promotions. They make up 36% of the new partner promotions - a point of personal pride for Swiegers. For the eleventh consecutive year Deloitte was recognised in 2012 as an Employer of Choice for Women by the EOWA, while the firm was also recently awarded the Inclusive Workplace of the Year by the AHRI Diversity Awards 2012.

“Diversity has been a focus of Deloitte since 2004 and I am delighted with the progress we have made to date. Ultimately our approach to diversity helps us recruit, retain and engage high performing talent. I also firmly believe it helps us better connect our colleagues, unleashing greater collaboration and innovation within our organisation.

However, while we are making great progress and I remain determined to maintain Deloitte’s leadership role in the business community as the best employer for women, there is still much to be done,” Swiegers said.

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