Professional services firm PwC has today reported revenue growth of three per cent to £2,689 million for the year ended June 30, up from £2,621 million in the previous year.
All four of PwC’s business divisions achieved a good performance. The firm’s assurance practice, which includes the audit business, grew by one per cent to £969 million, tax grew by three per cent to £680 million, deals remained constant at £562 million, reflecting the relatively flat M&A market, and consulting grew by nine per cent to £478 million.
Mark Smith, regional chairman at PwC in the Midlands, added: “These results underline our commitment to delivering upon a clear and robust strategy for growth. A strong trading performance in the region is reflected within these results and we continue to strengthen our business locally, particularly by investing in talented people.
“We have recently promoted five new partners and six new directors and have welcomed four new partners to our regional offices across the Midlands.”
Ian Powell, PwC chairman and senior partner, said: “It’s been a strong year as we continue to navigate a clear course to deliver responsible, profitable growth in challenging market conditions. Our performance reflects a balanced portfolio of businesses, the high quality of our client work and the range and depth of our people’s expertise.
“PwC is optimistic about the economic outlook and we now expect the UK economy to grow by 1.3 per cent this year followed by 2.3 per cent growth in 2014. Though this may not be strong growth by comparison with pre-financial crisis trends, we believe it reflects a ‘New Normal’ for growth affecting all western economies.”
