Deloitte FY21 revenues hit $50bn

Deloitte has announced that it saw a 5.5% year-on-year aggregate global revenue increase to $50.2bn (£36.4bn) in FY21.

The Big Four firm’s financial advisory arm reported the largest increase in revenues, jumping 12.9% when compared to FY20.

This was followed by the audit and assurance department, which reported a 6.1% year-on-year revenue growth for the year ended 31 May 2021.

Both the consulting and risk advisory service lines at Deloitte expanded revenues by above 5% in the same period, while the group’s tax and legal division grew at a slower rate of 2.3%.

Deloitte’s APAC operations delivered the fastest year-on-year revenue growth per region, jumping 14% and followed by EMEA, which climbed 11.3% during the financial year.

Punit Renjen, global CEO at the company, said: “While the past year was difficult and defined by uncertainty, it has shown what can be achieved at speed and scale when businesses, governments, and society work together to tackle tough global challenges.

“While the pandemic and disruptions of the past year have exposed considerable inequities in our society, they have also provided us with an opportunity to build resilience into our global economy, rebuild trust in our systems and businesses, and foster a better future for more of the world’s people.”

FY21 also saw Deloitte make $223m (£162m) in societal impact investments, bringing its five-year total to $1.15bn (£833m).

Renjen added: “Our future is not preordained. We can create a better world for future generations. To thrive tomorrow, it is imperative for everyone—governments, businesses, and individuals—to put people and our environment first, and act now to create a more resilient world that is prepared for and adaptable to the next set of challenges.”