Deloitte UK Reports Mixed 2025 Results, Plans Internal Review
Deloitte UK, the global professional services network, has reported mixed results for its 2025 financial year. While the Technology, Media & Telecommunications (TMT) department within its business grew by approximately 10%, overall revenue fell by 1%. The company is now planning a review of internal services teams and may create new roles to accommodate staff during a reorganization.
Deloitte's audit and assurance business grew by 3% to £969 million, while the tax and legal unit saw a 7% increase to £1.34 billion. The strategy, risk and transactions business also rose by 3% to £901 million. However, the tech consulting business revenue contracted by 10% to £1.67 billion due to clients delaying investments, with Richard Houston, Deloitte UK's senior partner and chief executive, attributing this to geopolitical and economic factors.
The broader consulting industry is facing a downturn, with companies like Accenture and McKinsey also affected. Deloitte UK partners received an average 4% pay raise, with their pay increasing to about £1.05 million ($1.4 million). The review of internal services teams includes roles such as marketing and business development, with some staff at risk of redundancy.
Despite the challenges, Deloitte UK's TMT department remains one of the fastest-growing parts of the business. The company is committed to supporting its staff during the reorganization, with plans to create new roles where possible. However, the broader economic climate and geopolitical factors continue to impact client spending, leading to a slowdown in consulting services.
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