Showing posts with label flat. Show all posts
Showing posts with label flat. Show all posts
Sunday, April 18, 2010
Wednesday, September 30, 2009
Ernst & Young: External Challenges Drive Flat Revenue From FY 2008 To FY 2009
Ernst & Young just reported its combined worldwide results for the year ending 30 June 2009 (FY09), the first Big4 firm to report its global results.
Combined global firm revenues of US$21.4 billion for the fiscal year ended 30 June 2009 (FY09) decreased a modest 0.2% in local currency terms from the comparable period in FY 2008. In FY 2008, E&Y reported US$23.0 billion in global revenues, and in US dollar terms, the revenue actually declined 6.8% from 2008 to 2009. This shows the dramatic effect of the appreciation of the US dollar in this period against foreign currencies. In other words, one unit of foreign currency translated to much fewer US dollars in the FY 2009 fiscal year compared to the FY 2008 fiscal year. We have highlighted growth in both local currency and US$ terms in our analysis.
Combined global firm revenues of US$21.4 billion for the fiscal year ended 30 June 2009 (FY09) decreased a modest 0.2% in local currency terms from the comparable period in FY 2008. In FY 2008, E&Y reported US$23.0 billion in global revenues, and in US dollar terms, the revenue actually declined 6.8% from 2008 to 2009. This shows the dramatic effect of the appreciation of the US dollar in this period against foreign currencies. In other words, one unit of foreign currency translated to much fewer US dollars in the FY 2009 fiscal year compared to the FY 2008 fiscal year. We have highlighted growth in both local currency and US$ terms in our analysis.
Labels:
advisory,
assurance,
Ernst and Young,
flat,
FY 2009,
global revenues,
results,
tax
Thursday, September 10, 2009
Deloitte UK and PwC UK Revenues Flat, Showing Tough External Conditions
PricewaterhouseCoopers LLP UK just reported its annual results for the year ending June 30, 2009 and with Deloitte LLP UK reporting its annual results for the year ending May 31, 2009, we have now two data points to understand better how the mid-2008 to mid-2009 period is shaping up for the Big Four firms. Please note that the UK firms are not representative of the entire firms, but they are certainly indicative and the data does arrive close to their year ends, while the Big Four firms seem to have the latitude, as private partnerships, to report their annual results months after the year is closed at a timing of their choice.
Labels:
2009,
Deloitte UK,
flat,
PricewaterhouseCoopers UK,
profits,
results,
Revenues,
Turnover
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