EY reports 2% increase in UK fee income in FY25

Core Insights - Ernst & Young (EY) reported a UK fee income of £3.78 billion ($5.05 billion) for the financial year ending June 27, 2025, reflecting a revenue growth of 2% in a challenging market [1] - The firm achieved a 9% increase in distributable profit per partner, reaching £787,000 ($1.05 million) in FY25, up from £723,000 in FY24 [1] - Distributable profits before tax were £679 million, compared to £653 million in the previous fiscal year [1] Revenue Breakdown - The Strategy and Transactions service line experienced a 10% revenue increase, while Tax and Assurance services reported growth of 5% and 3%, respectively [2] - Conversely, the Consulting service line saw a revenue decline of 6%, attributed to more difficult trading conditions [2] Investment in Technology - EY has committed to investing in new technologies, including a $1 billion global investment in audit technology, AI, and advanced data analytics [2] - The firm has introduced technological tools such as the EY.ai Agentic Platform, developed in collaboration with NVIDIA, and integrated Microsoft 365 Copilot across its UK operations, now utilized by over 12,000 personnel [3] Workforce and Leadership - EY UK & Ireland regional managing partner Anna Anthony highlighted the firm's investment in skills and capabilities to support future growth, noting the hiring of nearly 2,400 people and the admission of 59 new Equity Partners over the last financial year [4] Strategic Outlook - Despite an unpredictable economic environment, EY maintains a clear strategy to drive business forward and support clients, emphasizing the positive impact on the sector that will contribute to the UK's future growth ambitions [5] - The firm has faced scrutiny for allegedly misleading the UK's accounting watchdog, the Financial Reporting Council (FRC), during its audit of NMC Health [5]