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September 17, 2012

PwC UK reports 7% revenue increase

PwC UK has increased its revenues by 7% in the
year to 30 June 2012, up from £2,461m ($3,040m) to
£2,621m.

Ian Powell, PwC UK chairman and senior
partner, attributed the growth to strong performance across the
board, and continuing investment in the face of the economic
downturn.

The firm’s assurance arm, which won audits of
Aviva, Dubai World, Genel Energy and Yule Catto, grew its revenue
by 6% to £963m. Consulting, including sustainability and climate
change services, posted 13% growth to £438m, while the deals
practice grew 8% to £561m and tax grew 2% to £659m.

The UK results also include the network’s
Middle East practice.

PwC UK said profit increased by almost 11%
from £656m to £727m, with average profit per partner rising from
£763,000 to £798,000.

The firm said its total staff costs increased
6% in the year to £1,144m, reflecting 3% increased headcount and
that staff bonuses across the firm decreased 6% to £84m.

Powell said that heavy infrastructure
investment, along with strategic acquisitions and “the recruitment
of some 2,300 people, including 1,200 graduates and 100 school
leavers, the admission of 61 new partners” had helped the company
to deliver a “world class service”.

Powell concluded: “While the short term
economic environment remains tough I am confident in the UK’s
longer term prospects. We will continue to invest to ensure we are
able to support the economic recovery when it comes and plan to
maintain our record recruitment levels in the coming year.”

PwC is the largest of the Big Four firms in
the UK.

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