October 5, 2010 / 11:05 PM / 9 years ago

Ernst & Young revenues fall slightly to $21.3 bln

NEW YORK, Oct 5 (Reuters) - Global accounting firm Ernst & Young [ERNY.UL] announced a slight decline in fiscal year 2010 revenues as growth in the second half failed to fully offset a sluggish start to the year.

A newly formed Asia-Pacific segment posted a 9 percent growth in revenues, but that was offset by declines in the Americas, Japan, Europe, the Middle East, India and Africa, the firm said.

For the full fiscal year ended June 30, revenues were down 0.9 percent to $21.3 billion from $21.4 billion in fiscal year 2009, Ernst & Young said.

Revenues from advisory services grew by 2 percent, but other areas of the firm, including tax and audit services, posted declines.

Revenues grew by 5.3 percent in the second half and continue to grow in fiscal 2011, Ernst & Young said.

One of the “Big Four” accounting firms, London-based Ernst & Young has 695 offices in 140 countries. (Reporting by Dena Aubin; Editing by Tim Dobbyn)

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