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E&Y Revenues Jump 14 Percent NEW YORK and LONDON, Dec. 13, 2000 (SmartPros) Marking its sixth consecutive year of double-digit growth, Ernst & Young reported a 14.1 percent jump in global revenue to $9.2 billion for the fiscal year ending June 30, 2000, up from $8.1 billion last year.
E&Y's corporate finance services skyrocketed 32.2 percent, tax and law expanded 16.1 percent, while audit and advisory business grew 10.5 percent. The first of the Big Five firms to officially split off its consulting unit, E&Y sold its consulting services arm to French information technology and consulting group Cap Gemini in May 2000. "As we expected, separating audit and tax from consulting services had a positive impact on performance," said chairman Philip A. Laskawy. "We are demonstrating strong double-digit growth in our continuing lines of business, consistent with our track record of providing solutions that help clients achieve their business strategies." Laskawy is scheduled to retire June 30, 2001. He will be succeeded by James S. Turley. -- SmartPros News Staff Send comments to information@smartpros.com. Back to International NewsLine 2000, Smartpros Ltd. All Rights Reserved. |
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