Increased confidence and willingness to invest leads to revenues rising at Deloitte

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DELOITTE reported a 6.7 per cent rise in revenues for its business in Yorkshire and the North East last year, driven by an increase in confidence among its clients and a willingness to invest.

The accountancy firm, which has offices in Leeds and Newcastle, said revenues rose to £96m in the year ending May 31.

Nationally, the firm’s net revenue grew three per cent to £2.13bn, from £2.06bn in 2013, while profit-per-partner was £750,000, down by 2.8 per cent on the previous year.

Martin Jenkins, practice senior partner in Yorkshire and North East, said: “Whilst the market environment has continued to present challenges, the economic tide has clearly turned and we are seeing confidence increase and willingness to invest across our client base, especially as liquidity has been strong in both debt and equity capital markets.

“Our practice in Yorkshire has seen growth across all businesses and our strategy of investing to grow our practice is reflected in the progress we have made in key sectors for our region such as financial services, manufacturing, consumer business and the public sector. Looking ahead, we expect that better economic conditions will result in significant improvements across our markets.”

He added that Deloitte had seen an increase in mergers and acquisitions.