PwC in the Midlands makes strong contribution to full year performance
PwC has reported revenue growth of 10% to £3,083m for the year ended 30 June 2015, up from £2,814m in 2014, with growth in the Midlands being amongst the strongest anywhere in the UK.
Profits increased by 6% to £818m as the firm said it continued to invest heavily in its people, training and skills, infrastructure and technology.
Ian Powell, chairman and senior partner of PwC UK, said: “The momentum in our business today is a reflection of our long-term investment strategy and the decisions we took during the downturn to ensure that we deliver responsible, profitable growth. Over the past seven years we have invested close to £1bn in developing our people, technology, infrastructure and new services to meet the future needs of our business.”
He said the core businesses – Assurance, Tax, Deals and Consulting – delivered strong growth, while its newer businesses such as cyber security, data analytics, digital and technology consulting performed particularly well.
“Our investments, such as Strategy&, cloud-based accounting tools for SMEs, real-time assurance technology, Skyval pension analytics platform and global collaboration with Google, are all key to helping our clients compete more effectively in the future,” added Powell.
“These investments are also enabling us to contribute to the continued growth of professional services, one of the UK’s biggest sectors and exporters, and crucial to the knowledge economy.”
Growth in the Midlands region is said to have been amongst the strongest in the UK, with strong results across all areas of the business.
New Midlands chairman Matt Hammond said: “In the last 12 months, we have made a substantial investment in our people, with 20 partner and director promotions strengthening our senior team, and new experts in a number of areas enabling us to provide specialist services for our clients.
“We also continue to attract new talent, filling over 200 roles across our three offices in Birmingham, the East Midlands and Milton Keynes, including graduates, students on undergraduate work experience programmes and higher apprentices.
“Other highlights in the Midlands have included 25 M&A transactions over the last 12 months – worth over £3.3bn, a significant investment to develop a hub of industrial sector expertise in the Midlands, and increasing activity with clients in areas such as R&D and cyber security.”
He said that with stronger economic growth, increased decentralisation and further confidence expected in the business community, the firm was committed to supporting its clients as they grow.
