Deloitte U.K.'s equity partners will receive an average of £1.1 million ($1.2 million) this year, after revenue and profit jumped at the professional services firm's advisory and audit arms.
Revenue at the firm's advisory businesses — consulting, financial advisory, risk advisory and tax and legal -- rose 11% to £3.6 billion, Deloitte said in a statement Friday. Its U.K. audit and assurance business grew 9% to £723 million.
Advising on sustainability and regulation helped boost risk advisory revenue, while financial advisory had "an exceptional year driven by a buoyant M&A market," the statement said.
Distributable profit grew 21% to £711 million for the year ended May 31. Average profit per equity partner was £1,058,000, up £8,000 from last year's payout, which included a £196,000 one-off payment from the sale of a restructuring business.
Deloitte is planning to grow its consulting headcount to around 11,000 by 2027, up from 7,500 currently. A third of that headcount is expected to be located outside London. It also expects to hire 40% more auditors over the same period.
