The northwest branch of accountants and corporate advisers Deloitte has announced that fee income is up 11 per cent to £121 million in the 12 months to May.

This is in line with the company's national increase to just over £2 billion, reports the Manchester Evening News.

The upward trend can be attributed to close working relationships with Volex, Brother, Bodycote and the Co-operative Group, which has just purchased Somerfield for £1.5 billion.

Deloitte has also made several key promotions in its Manchester and Liverpool offices.

Northwest senior practice partner Patrick Loftus told the newspaper: "The firm has completed a successful year due to the support of our clients and the hard work of a talented staff.

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

According to Deloitte global chairman John Connolly, the UK is unlikely to see much growth in most business segments for the next 12 months but a pick-up is likely in the second half of 2009 or at the start of 2010.