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Big four firm EY has posted a 6 per cent revenue growth for the 12 months to 30 June 2019, driven by advisory growth due to strong demand from the financial services sector.
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EY delivers 6% revenue growth
28 August 2019
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8 minute read
EY has announced a record revenue result of $1.9 billion, up by 6 per cent, for the 12 months to 30 June 2019.
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Its people advisory services achieved double-digit growth as organisations undertook significant workforce transformations.
“Ongoing change, tighter regulatory scrutiny and increasingly competitive market segments mean clients need adaptable leaders, mobile talent and the right corporate culture — all of which need to be supported by a transparent reward structure,” said EY Oceania chief executive and managing partner Tony Johnson.
The big four firm’s audit practice also contributed to growth, with new wins including Origin Energy, Growthpoint, Cbus, Coles and international wins at Nestle, Zurich Insurance, Munich Re and Deutsche Bank.
“We are committed to the continued delivery of quality audits that clients, shareholders and regulators can trust. We continue to invest significantly in additional resources, training and technology, in particular the use of digital and data analytics, to improve audit quality,” Mr Johnson said.
Mr Johnson also attributed its growth to four acquisitions over the financial year, including Plaut, Adelphi, Karrikins and Cadence.
“These strategic acquisitions have been successful in expanding the breadth and depth of our offerings in specific sectors across technology, economics, the workforce and community engagement and education,” he added.
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