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EY announces 11.6 pct growth of revenue, fastest since 2008

Xinhua, September 15, 2015 Adjust font size:

Ernst & Young (EY), a global professional services firm, Tuesday announced that its global revenue grew by 11.6 percent to 28.7 billion U.S. dollars in the financial year ending June 30, 2015 (FY 2015), recording its fastest growth since 2008.

All EY's services lines growth in FY 2015 surpassed those in FY 2014, with Advisory grew by 17.6 percent, Assurance 8.1 percent, Transaction Advisory Services 15.5 percent and Tax 10.3 percent, data showed.

Strong performance in the developed markets was led by the United States, which grew 12.5 percent to 11.2 billion dollars -- its largest increase in 10 years.

The emerging markets practices grew by 12.3 percent overall, but in key emerging economies, the economic conditions were "mixed", said EY. Figures showed that India led the emerging markets with 19.7 percent growth.

Mark Weinberger, EY's Global Chairman and CEO, said in a statement: "While short-term forecasts may be bearish on some emerging markets, we are seeing strong growth in these regions."

"We are confident in the long-term potential of these economies and continue to expect that 30 percent of our revenue will come from emerging markets by 2020," he added.

Data also showed that EY's revenue increased across all four of its geographic areas: the Americas 12.3 percent; Europe, Middle East, India and Africa 11.6 percent; Asia-Pacific 11.2 percent; and Japan 4.6 percent.

EY is a multinational professional services firm headquartered in London. In FY 2015, EY headcount reached an all time-high at 212,000 globally. Endit