Deloitte has made public its 2023 financial results report. According to the report, revenue for the year ended 31 May 2023 increased by 14% to £5.6bn as buoyant markets in the first half of the year drove growth across both advisory and audit & assurance.

Commenting on this, Deloitte senior partner and CEO, Richard Houston, said: “Our people and partners have worked incredibly hard to deliver another strong year, amid a complex and changing economic landscape.

“Our performance in the first half of the year was strong and, despite some softening of growth in the second half, we saw significant demand across all our services and industry groups, particularly in Financial Services, Energy and Resources and Public Sector.

“We’ve made significant investments in our people with over £360m into reward, promotions and learning.

“Plus we’ve continued our long-term commitment to digital as an enabler of growth, with £120m invested in technologies to improve quality, client service and our hybrid working experience.

“Markets are expected to remain challenging and, like any responsible business, we have adjusted our plans in response. This month we announced a small number of targeted restructurings across our firm subject to consultation.

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“Looking ahead, we have a strong pipeline, with continued demand for digital transformation alongside advice on tax, sustainability, climate and AI adoption.

“We remain confident that the breadth of our capabilities, coupled with our investments, will ensure we’re best placed to support clients with the increasing pace of change and complexity they face.”