PwC Cyprus sees positive results, revenue up 3.3%

Despite the difficult economic conditions, PwC Cyprus achieved an increase in revenues of 3.3% reaching €77,3 mln for the financial year 2013 which ended on June 30.
PwC Cyprus saw strong growth during the months between July 2012 to March 2013, when Eurogroup decision had an adverse impact on results, it said at the annual meeting in Limassol on September 27.
PwC's total global revenues also rose by 4% at constant exchange rates reporting record total gross revenues of US$32.1 bln for the fiscal year ended June 30. Strong growth continues in Americas, Middle East and Africa while PwC revenues also increased in Europe.
PwC Cyprus CEO Evgenios Evgeniou said the firm’s total contribution to state revenues, in the form of direct and indirect taxation and other contributions, was €24,6 mln.
Also present at the annual meeting was Finance Minister Haris Georgiades who said that “we need to learn from the mistakes of the past and move forward with an emphasis on structural reforms, reduction of bureaucracy and cutting public spending within the limits of our capabilities. We need to build a modern state that will be effective for its citizens and attractive for foreign investors”.
The meeting was also attended by Mike Kubena, PwC’s CEO for Central and Eastern Europe as well as 12 other PwC international executives, while John Gerard Bruton, former Prime Minister of Ireland shared his views on the course of the European economy as well as the experience of Ireland as regards the country’s course towards economic recovery and growth by successfully addressing economic challenges.