Partner Article

Deloitte down but not out

BUSINESS advisory firm Deloitte has reported revenues of £1,95bn for the year ended 31 May 2010 - down £16m on the previous year.

The organisation has blamed the tough economic climate for the fall.

In the North East, however, Deloitte’s Newcastle office has performed well.

Overall revenues have remained steady while there has been growth in the office’s Audit and Tax departments.

Paul Williamson, senior partner at Deloitte in Newcastle said: “It is hard to underestimate just how difficult the economic conditions have been. Notwithstanding that, the team at Deloitte in Newcastle have all worked incredibly hard to deliver a very positive year.

“We have made a significant investment in new offices with our move to Trinity Gardens on Newcastle’s Quayside and continued with our recruitment of key personnel, all of which shows our commitment to enhancing service provision across the North East.

“Whilst we expect the economic climate to remain tough, our results mean we remain confident in setting our business challenging targets for the coming year and a continuation of the growth of our business and service capability.”

John Connolly, Deloitte CEO has said the firm is in “great shape” and are in a strong position to capture new growth opportunities.

He added: “Despite a second successive year of very challenging markets for Deloitte and our clients, we are emerging from the recession with a very satisfactory performance and our standing in the market enhanced.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .