THE north west head of accountants and corporate advisers Deloitte today hailed a successful year but warned that the coming months would be difficult for all businesses.

Patrick Loftus said all areas of the firm's operations had enjoyed significant growth and had contributed to an 11 per cent rise in fee income to £121m for the 12 months to May 31, in line with the national increase to just over £2bn.

Mr Loftus said the audit team led by Damian Sanders had been one of the best performers, along with the corporate finance division, which advised on deals such as the Co-op's £1.5bn acquisition of Somerfield and the £73m buyout of travel company ATP International.

Deloitte also made several key promotions across its offices in Manchester and Liverpool. Mr Loftus said: "The firm has completed a successful year due to the support of our clients and hard work of a talented staff.

"However, we anticipate that the coming months will be difficult for all businesses."

He expects further progress this year for the corporate finance, tax, audit and consulting teams.


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