Accenture reported a double-digit overall growth for the first quarter of fiscal 2005, helped by a 14 percent increase in its consulting business—the largest year-over-year increase since the company became public in July 2001.
Net revenues grew 14 percent overall in U.S. dollars to $3.73 billion for the quarter ended Nov. 30, 2004, compared with $3.26 billion for the first quarter of fiscal 2004.
The company achieved net revenue growth across all three of its geographic regions, and net revenue growth in U.S. dollars across all five of its operating groups, with exceptional top-line contributions from its Financial Services and Products operating groups.
Consulting net revenues were $2.385 billion, or 64 percent of net revenues, an increase of 14 percent in U.S. dollars over the first quarter of fiscal year 2004.
Outsourcing accounted for $1.345 billion, or 36 percent of net revenues, an increase of 15 percent in U.S. dollars over the year-ago period.
New bookings for the first quarter totaled $4.03 billion, with consulting accounting for $1.96 billion and outsourcing accounting for $2.07 billion, a decrease from $5.05 billion in the year-ago period as outsourcing contracts become smaller.
"Looking ahead, we are encouraged by the high level of activity in the marketplace, the momentum we are seeing in demand for our services, particularly in consulting, and our strong pipeline," said William D. Green, Accenture's CEO.
For the full fiscal year 2005, Accenture restated its 2005 forecast of 9 percent to 12 percent in local currency but now expects net revenue growth in the range of 13 percent to 16 percent in U.S. dollars, assuming the dollar continues at the current level.
Entire contents, Copyright © 2005 Consultant-News.com. All rights reserved.