The accounting and professional services firm reports robust growth in revenues across the globe, according to its year-end financial results.
PricewaterhouseCoopers has logged global gross revenues of $35.4 billion for the financial year ended 30 June; at constant exchange rates, total global revenues gained by 10 per cent, an improvement from the previous year and the fastest year-on-year growth since the 2007 financial year.
PwC member firms in North America and the Caribbean reported revenue growth of 12 per cent; its largest firm, PwC US, logged a rise in revenues of 10 per cent to $12.2 billion. Revenues from South and Central America rose by 8 per cent.
Revenue growth in Asia was also strong, up by 9 per cent to $4.1 billion. The firms in China and Hong Kong grew by 8 per cent and India firms rose by 17 per cent.
Heading westward, PwC said revenues in Europe rose 8 per cent in Western Europe and 6 per cent in Central and Eastern Europe. The UK firm, PwC’s second largest, saw revenues gain by 9 per cent to $4.1 billion. In the Middle East, PwC revenue growth was in the double digits, at 16 per cent.
“The global business environment remains challenging, with a continuing patchy economic picture, geopolitical issues creating uncertainty for business and fierce competition in the professional services market. Despite these challenges the PwC network performed exceptionally well in FY15 with growth of 10 per cent, pushing revenues over the $35 billion mark for the first time,” Dennis Nally, chairman of PricewaterhouseCoopers, said.