PwC reveals turnover grew 7%

News Article - 09 September 2008
Category:

Accounting
firm PricewaterhouseCoopers (PwC) has revealed that its turnover for the last financial year rose seven per cent to reach £2.24 billion.

It also revealed that it had underlying profit growth of seven per cent to £664 million and underlying net revenue growth of five per cent.

The firm was also the UK's biggest graduate employer for the fifth year in a row, with more than 1,000 students joining its payroll since the end of June 2007.

And the number of female partners has topped 100 for the first time, making up just over a quarter of new admissions.

Despite the mostly positive news, growth had slowed in the second half of the year in line with economic conditions.

The company's UK chairman, Ian Powell, said: "The current economic uncertainty has affected business and consumer confidence with transactional activity down and a lowering of growth expectations for many UK and international businesses."

PwC also recently announced that it had established its Actuarial and Insurance Management Solutions service in the Middle-East, Asia and South America.

It now has over 1,000 actuaries in 36 countries.

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