EY reports record UK revenues

EY has achieved a second year of double-digit revenue growth, with UK revenues up 16% and fee income increasing to a record £3.76bn from £3.23bn the previous year.

Over the last financial year, EY recruited 5,326 people and since January 2023 it has welcomed over 1,800 graduates, school leavers and interns. As part of a commitment to social equity and targeted actions to attract talent from low-income backgrounds, around 11% of EY’s student intake disclosed they were previously eligible for free school meals

EY said it has re-invested profits into the business, rather than just in partner distributions. Average distributable profit per partner was £761,000 (£803,000 in FY22). As of 1 July 2023, 29% of UK Partners were women and 17% were from ethnic minorities, of which 8.5% identify as Black or Mixed-Black.

In the UK, EY has also invested an additional £116.1m in technology consulting over the last three years through both acquisitions and partner hires. As an example, in FY23 EY acquired whyaye ltd, a UK-based consulting services provider for the ServiceNow platform. EY has made eight acquisitions in the UK since April 2021.