Deloitte will report revenues up more than 11 per cent this year, buoyed by a pick-up in classic “downturn” work of restructuring and debt advisory services in the past few months.

John Connolly, head of Deloitte UK, told partners that the accounting firm had produced revenues of £2.01bn in the year to the end of May – just beating his 2006 target of hitting £2bn within two years.