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EY has announced a 6.8 per cent increase in revenues for the year ended 30 June 2014.
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EY announces revenue spike
29 September 2014
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8 minute read
Global revenues spiked to US$27.4 billion dollar for the year.
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All of EY’s service lines recorded growth in 2013/2014, with advisory up 14.4 per cent, transaction advisory services up 6.5 per cent, assurance growing by 4.5 per cent and tax up 4.3 per cent.
Mark Weinberger, EY’s global chairman and chief executive said he was extremely pleased with the year’s results.
“This financial year began with the launch of the new EY brand under Vision 2020 – our plan to be the leading professional services organisation by 2020. It finished with a set of accomplishments and results that show us moving from strength to strength.”
The global firm recorded strong increases in revenue around the world including a 9.1 per cent increase in the Americas on 2012/2013.
The Indian firm saw substantial growth, recording a 16.5 per cent increase in revenues for the year.
EY saw five per cent revenue growth in the Asia-Pacific region.
Overall, EY’s emerging market practices grew 8.7 per cent despite tough conditions in a number of emerging markets. This compares to 12 per cent last year.
“Emerging markets will continue to drive economic growth for the foreseeable future. By 2020, we’re predicting about 30 per cent of our revenue will be from emerging markets and we have earmarked US$1.5 billion for investment to support that growth,” Mr Weinberger said.
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