• Register
Return to: Home > News > PwC UK grows 5% in 2018

PwC UK grows 5% in 2018

PwC UK reported revenue of £3.76bn ($4.92bn) for the year ended 30 June 2018, up 5% from £3.60bn last year.

The firm cited investment in people and technology across the UK as a reason for its growth.

Assurance revenues increased by 3%, consulting revenues were up by 1%, deals grew by 10%, and the tax practice, which includes specialists in areas such as immigration, legal services and pensions, experienced growth of 7%. The Middle East practice grew by 15.7% in US dollar terms.

PwC UK chairman and senior partner Kevin Ellis said: “Despite uncertainty over Brexit, all four of our business divisions grew this year, with high demand for technology-related services, including cyber, data analytics and GDPR. Twenty-nine percent of the firm’s revenues came from inbound - organisations headquartered outside the UK - highlighting the importance of the UK as a global business hub.”

The firm highlighted its investment in technology as a driver for its increase in revenue. Ellis commented: “We are adopting new technologies to ensure our business is efficient and connected for the future. We’ve made a step change in our own digital transformation this year with significant investment in cloud-based technologies such as Google for Work, Salesforce, and Workday, as well as continuing to invest in emerging technologies expertise in AI, virtual reality and a drones team to build and innovate client services.”

Despite the firm’s growth, PwC faced two investigations from the UK’s Financial Reporting Council in regards to BHS and Tenon in its last financial year. Reflecting on this and the scrutiny which the UK audit market has faced over the last year, Ellis said: “During the year there has been significant scrutiny of our profession and the audit market in particular, with recent commentary highlighting concerns over competition, choice and audit quality. We are committed to helping regulators find practical remedies to increase choice and are clear that audit quality must be the top priority.

“This year we settled two Financial Reporting Council investigations (BHS and Tenon) where our work fell below the standards expected of us and that we demand of ourselves.  Our goal is always to deliver work of the highest calibre. When we get things wrong we put our hands up, learn the necessary lessons and improve our processes. Audit remains a fundamental part of the firm and the commitment to continuously improve audit quality is at the forefront of our strategy.”

Revenues by business line: 

Business area   

2018 revenue   

Growth v 2017     

2017 revenue   



















Top Content

    MSI joins AGN and DFK in Global Connect

    A year after AGN International and DFK International launched Global Connect, multi-disciplinary association MSI has joined the group.

    read more

    Views from the Eurozone

    With Brexit looming, populist governments gaining footholds in a number of countries and movements such as the Yellow Jacket protests in France, 2018 was anything but a quite year for the eurozone. Here leaders report to the IAB on their markets.

    read more

    Eastern promise and how to find it

    With China rising as a global power, Jonathan Minter spoke with ShineWing’s Zhang Ke and Marco Carlei at the World Congress of Accountants 2018 in Sydney, to discuss the cultural challenges that occur when Chinese networks look beyond their border, and the dividends available for those who overcome them.

    read more

    The UK: uncertain waves rule Britannia

    The UK’s accountancy profession is currently in a period of much uncertainty. The Competition and Markets Authority (CMA) has released its review into the listed audit market which could cause the biggest shake-up the profession has seen in years, the Kingman Review has described the Financial Reporting Council (FRC) as not being fit for purpose and called for it to be replaced. All the while the country remains in a deadlock on Brexit negotiations.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.