EY 2015 global revenues up by 11.6%

Accounting. Image source waldkirch

Accounting. Image source waldkirch

EY has announced combined global revenues of $28.7b for the financial year ended June 30, 2015.

This represents an 11.6 per cent increase over financial year (FY) 2014 revenues in local currency, outpacing FY14 growth.

Revenue growth across all the firm’s service lines continued to post positive results in all the geographic regions in FY15, ahead of their FY14 growth.

“This year, we realised strong gains across both developed and emerging markets, despite volatile conditions in many individual markets and a slowing global economy. We are proud of this year’s results, which saw fast-paced growth across all of our businesses and in each geographic area.

“Under our Vision 2020 strategy, we have been very explicit about our purpose of building a better working world and this has given us great momentum both inside and outside the organisation. It has helped us attract, retain and motivate our people. Our purpose has also been valuable as we engage with our clients and in guiding our successful work on their complex issues,” EY’s Global Chairman and Chief Executive Officer, Mark Weinberger said.

Despite an uneven global recovery and an economy with serious weaknesses and uncertainty hampering both developed and emerging markets, EY achieved its highest revenue growth since 2008.

Strong performance in the developed markets was led by the U.S., which grew 12.5 per cent to $11.2 billion – its largest increase in 10 years. The U.S. achieved balanced performance across all businesses, sectors and geographies.

Elsewhere in developed markets, the U.K. achieved strong growth, led largely by new major accounts across its audit practice, as well as the strength of its TAS and Tax businesses. EY also saw double-digit growth in its Australian, German and Italian member firms.

EY’s emerging market practices grew by 12.3 per cent overall, compared with 8.7 per cent last year, despite mixed economic conditions in key emerging market economies.

India led the emerging markets with 19.7 per cent growth. Other strong regions included ASEAN (12.9 per cent), Africa (11.3 per cent), Mexico and Central America (17.3 per cent) and Middle East and North Africa (14.7per cent).

No Comments yet