Ernst & Young annouces strong revenue growth up 6% to £1.7bn

Newcastle-based business adviser Ernst & Young LLP has announced strong revenue growth up 6% to £1.7bn

Mark Hatton, EY's senior partner in the North East
Mark Hatton, EY's senior partner in the North East

Business adviser Ernst & Young LLP, which employs more than 300 people at its North East base in Newcastle, has announced strong revenue growth up 6% to £1.7bn.

In addition, the firm reported global revenues of US$25.8bn.

The upturn in the group’s fortunes has led to more than 1,200 UK jobs being created, alongside 1,300 student places.

And in the next year Ernst & Young (EY) is looking to hire 2,400 people with an additional 1,300 student places.

Mark Hatton, EY’s North East senior partner at EY, said: “EY has posted strong revenue growth over the last three years, which provides us with a solid platform for market advancement.

“Our success is down to delivering exceptional client service and continual investment in our people.

“With increased momentum in our business and the markets we serve, we intend to recruit 3,700 people across the UK in the coming year, a third outside London.

“Our regional markets present a major growth opportunity for the firm.

“Globalisation and pursuing opportunities in fast-growth markets overseas continues to dominate the thoughts of our client base and, indeed, fuels our pipeline. EY is the most globally-integrated professional services firm.”

The top growth sectors were financial services and the public and government sector – the latter in part due to EY winning work with the Audit Commission. Meanwhile, big data, cyber-security and financial regulation were some of the issues driving demand for advisory services in particular.

Hatton added: “The firm has been bolstered by the recent appointment of our new global chairman, Mark Weinberger; our new purpose – building a better working world; and the adoption of EY as our global brand name.

“Our new purpose is ambitious. It means we will go beyond our commitment to delivering a high-quality service to our clients and use our expertise to team with others to create positive change in society.”

Steve Varley, chairman and managing partner UK & Ireland, said: “Posting 6% organic revenue growth at a time when business investment levels in the UK remain historically weak, is a good achievement. It demonstrates that we are winning in the market and that our investment programme is paying dividends.”

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