PwC sees growth in revenue

PROFESSIONAL services giant PwC today announced growth of 4% with turnover reaching  £2,331m, although profit per partner has decreased by 2%.

Ian Powell, PwC’s UK chairman and senior partner, said: “Despite the challenging environment our advisory business achieved strong turnover growth of 9% to £804m (including a 15% increase in net revenues for our consulting business), our assurance business performed well achieving turnover growth of 4% to £893m while our tax practice saw a small decline of 2% to £634m.  The 2% decline in our partner profit share from £777,000 to £759,000 reflects our investment strategy.

Mark Smith, regional chairman at PricewaterhouseCoopers LLP in the Midlands, said: “Given the tough economic and market backdrop, we have delivered a good, solid set of results here in the Midlands, which are in line with those reported at a national level. The last financial year has seen the firm working closely with local companies and across the public sector to help our clients navigate through the recession and prepare for opportunities that should arise as the UK returns to positive, albeit modest, growth.

“We have continued to invest in our business locally and have recently promoted three new partners and 10 new directors in the Midlands to further enhance the range and depth of services we bring to our clients. We look forward to welcoming over 90 graduates later this month, many of who are from universities in the Midlands, highlighting our continued commitment to investing in talent from the region.”