EY UK reports growth despite consulting revenue decline
Big Four group EY UK has seen a resurgence as its fee income increased by 2% over the previous financial year to £3.78bn, with most of its divisions witnessing growth, reports BritPanorama.
The company’s pre-tax distributable profits rose from £653m in FY24 to £679m, reflecting an increase of over 3%. Additionally, the average distributable profit per partner rose by 9%, from £723,000 to £787,000.
Revenue growth for EY included 10% for its strategy and transactions business, 5% for tax, and 3% for assurance. The financial services and consumer and health sectors emerged as the top performers, growing by 5% and 9% respectively.
Conversely, the firm’s consulting revenues fell by 6%, indicating tougher trading conditions, as reported by City AM.
Throughout the financial year, EY recruited nearly 2,400 individuals and welcomed 59 new equity partners. This follows earlier decisions to let go of dozens of senior partners and to make approximately 150 senior consulting roles redundant in early 2025.
Anna Anthony, EY’s managing partner for the UK & Ireland, commented, “While the economic environment remains unpredictable and challenging, we have a clear strategy to drive our business forward and better support our clients.”
In a bid to strengthen its position, EY has focused heavily on technological investments, including a substantial global investment of $1bn (£749m) in audit technology, AI, and advanced data analytics.
In line with this tech strategy, EY launched the EY.ai Agentic Platform in March 2025, developed in partnership with NVIDIA, aimed at providing frameworks for implementing responsible agentic AI solutions for both EY teams and clients.
Furthermore, EY has implemented Microsoft 365 Copilot across its UK operations, with over 12,000 users engaging with the program.
Reports indicate that the UK’s Big Four firms are significantly cutting back on graduate recruitment as AI technologies take over entry-level roles traditionally filled by school leavers and university graduates.
Since January 2024, EY has onboarded 1,600 graduates, school leavers, and interns. Although recent figures remain undisclosed, it is believed this year’s intake is consistent with those of the previous year.
A report from June highlighted that KPMG has reduced its graduate opportunities by more than 30%. Deloitte followed with an 18% reduction, while EY and PwC cut their graduate intake by 11% and 6%, respectively.
Anne-Marie Balfe, EY strategic talent leader at EY UK and Ireland, stated, “The recruitment and retention of top talent at every level of our firm and across all parts of the UK is, and always has been, a strategic imperative for our business and fundamental to the delivery of our growth ambitions.”
This financial performance reflects a broader trend within the UK’s consulting landscape, where the balance between leveraging technology and sustaining human talent is increasingly tested. As firms adapt, the implications for workforce dynamics and recruitment strategies remain a focal point for industry observers.
