EY has reported record levels of growth for its business on the island of Ireland, with revenues for the Financial Year up to the end of June 2023 (“FY23”) up 31% to €705 million (from €536 million in the prior Financial Year). EY Ireland’s compound annual growth rate (CAGR) over the past five years stands at 14.9% with FY23 representing a third year of market-leading growth. Globally, EY reported revenues of US$49.4 billion in FY23.
EY Ireland reported particularly strong performance in FY23 across its Assurance, Consulting and Tax & Law service lines. Despite a challenging global transaction market with a low level of transaction activity, EY’s Strategy and Transactions business also enjoyed a successful year.
All of the EY Ireland offices – in Dublin, Belfast, Cork, Galway, Limerick and Waterford – reported strong growth in FY23 across both financial services and non-financial services sectors. EY Ireland’s headcount across the island stands at 5,035 (up 19% over FY22), with 89 different nationalities. EY recently announced an additional 1,000 new roles in EY Northern Ireland, to be filled over the coming 5 years.
Commenting on the results, Frank O’Keeffe, Managing Partner, EY Ireland said:
“EY is incredibly proud to have once again delivered market-leading growth in our most recent financial year to 30 June 2023. This exceptional performance further underscores our position as the largest and fastest growing professional services firm on the island of Ireland.
This fantastic result for EY Ireland has been driven by strategic investments in our world-class teams and in our technology, all underpinned by a relentless focus on quality and delivering excellence for our clients who continue to turn to us in record numbers to help them solve their most complex challenges. Ongoing investment in our talented teams and in harnessing cutting-edge technology – including our unifying Artificial Intelligence platform EY.AI – allows us to work seamlessly with our clients to stimulate innovation, increase organisational agility and strengthen resilience.”
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Rob Heron, EY Northern Ireland Managing Partner, said:
“At EY we continue to invest to stay ahead of our clients’ needs. In our most recent Financial Year we launched or expanded new businesses including EY Parthenon and EY Carbon, and we acquired leading enterprise technology firm Client Solutions. Most recently we have launched EY.AI, a platform bringing together human capabilities and artificial intelligence following a $1.5 billion global investment.
Here in Northern Ireland, in September we announced a thousand new jobs in the region over the next five years, in response to increased demand across all our business areas. We’re aiming to more than double our headcount to 1,900 in the years ahead and to establish a hub in the North West to attract talent from across the region in a diverse range of skillsets and specialisms.”
Frank O’Keeffe continued:
“Since 2018 we have more than doubled our headcount on the island in response to strong client demand across tax and law, audit, corporate finance and consulting. We continue to hire for key skills, including in AI, data analytics, tax, law, audit, strategy, modelling, change management and cloud computing to name but a few. Helping our clients to leverage the incredible opportunities presented by cutting edge technologies is something that we are especially passionate about in EY.”
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“We also recognise the important role that we play in supporting the development of Ireland’s future business leaders and hence we have a laser focus on ensuring that our people have access to world class training and mentoring throughout their career at EY. In the past 12 months alone, we have promoted or progressed 1,634 people across all areas of our business. We believe that diversity brings strength and I’m incredibly proud that we have 89 different nationalities in EY Ireland working alongside our brilliant clients every day.”
Over the past 12 months EY Ireland has remained firmly focused on creating long-term value for a wide range of stakeholders including our clients, people, suppliers and the communities we serve. Next week we will be publishing our 2023 Societal Impact Report setting out the work we do to live our purpose of Building a Better Working World. Next week we will also publish our FY23 Transparency Report.”
Source: Written from press release
