Ernst & Young yesterday announced combined global revenues of $21.3 billion for the fiscal year ended June 30, compared with $21.4 billion in fiscal 2009.

The 2010 fiscal year saw a mixed performance, with decreases in revenue in the first half, offset by a rebound in the third and fourth quarters. Revenues in the second half of the financial year increased by 5.3 per cent in US dollars.

Across Ernst & Young’s four geographic areas, its newly formed Asia-Pacific Area recorded a nine per cent growth in revenues; the Americas, EMEIA and Japan Areas showed a 3.2 per cent, 0.9 per cent and 0.3 per cent decline respectively. All areas showed improvement in performance in the second half of the year.

“We are encouraged by the return to growth across all our practices in the second half of the year. While it is consistent with the global economic recovery, it also reflects the positive results we are seeing from our global integration leadership, our investments in emerging markets and the remarkable dedication and commitment of our people,” said Jim Turley, global chairman and chief executive of Ernst & Young.

In June, Ernst & Young completed its Asia Pacific integration as more than 1,200 partners voted overwhelmingly to establish a new combined area.

Ernst & Young expects to support the global economic recovery by increasing its recruitment of new people in 2011, including recruiting more than 5,000 in China and India. The 2010 Universum global recruitment survey of nearly 130,000 students, released last week, placed Ernst & Young as number three among all employers worldwide, and as the most attractive place for graduates to work in more markets than any of its competitors.

“The shift in capital flows and demographic changes underway reinforce our commitment to remain the most globally integrated professional services organisation while fostering the best people culture in our profession,” Mr Turley said. “We are uniquely positioned as the recovery takes shape to provide quality services for our clients wherever they operate worldwide.”

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.