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Deloitte Sees Slower Growth in Fiscal 2000 NEW YORK, Jan. 9, 2001 (SmartPros) Accounting and consulting giant Deloitte Touche Tohmatsu reported global annual revenue of $11.2 billion for the fiscal year ended May 31, 2000.
The 14.1 percent increase is slower than the 18 percent increase the Big Five firm reported for fiscal 1999. Deloitte, which recently changed its fiscal year-end to May 31 from August 31, originally reported revenue of $10.6 billion in fiscal 1999. After the change in its fiscal year in June of 2000 and the disposal of certain business operations, DTT revised its fiscal 1999 revenue to $9.9 billion. Global growth at the firm for fiscal 2000 was 17.2 percent. While lucrative consulting services have been credited with driving much of the growth in the accounting industry in recent years, growth in revenue from accounting services outpaced consulting revenue growth at Deloitte this year. The firm's accounting practice grew by 15.4 percent, while its consulting revenue expanded 11 percent. Unlike many of its competitors who have split off their consulting units or have announced plans to do so in the wake of pressure from regulators, Deloitte has announced no such plans. -- SmartPros News Staff Send comments to information@smartpros.com. 2001, Smartpros Ltd. All Rights Reserved. |
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