Deloitte UK profit drops as revenue rises

Deloitte saw revenue increase by 5.9% in the financial year ended 31 May 2018, up from £3.38bn to £3.58bn, marking the eighth consecutive year of revenue growth at the Big Four firm.

Distributable profit was £584m, slightly down from the previous year, which the firm said was due to investment in building new capabilities, such as an internal centre of excellence for robotic process automation and an artificial intelligence studio, as well as in training and development.

Average profit per equity partner, which was calculated after deduction of corporation tax this year, was £832,000.

Audit and risk advisory revenues grew by 10.2% to £1bn, consulting was up 1.7% to £873m, and tax rose by 5.8% to £732m. Revenues from the financial advisory stream remained flat at £459m. Deloitte Switzerland saw growth of 11.4% to £489m.

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