Consulting downturn hits profits, revenue shrinks $70m

Consulting downturn hits profits, revenue shrinks m

Deloitte Chief Executive Adam Boeck said some stability had returned to the struggling consulting market, noting that the $70 million loss in revenue last fiscal year due to public scrutiny and an industry-wide slowdown was unlikely to be repeated.

Revenue at the firm, which became Australia’s largest after the PwC tax scandal, fell 2.4% to $2.78 billion in the year to June 30, due to a 4% contraction in consulting billings.

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