PwC reported a 6% increase at constant exchange rates in its total global gross revenues, which amounted to US$34 billion for the fiscal year ended on 30 June 2014. Revenue growth was strong across all lines of business for all of PwC’s largest firms and in all geographic regions.
“With organisations and our stakeholders around the world looking to PwC to help build trust in society and solve important problems, PwC firms continued to perform very well in FY 2014. This strong performance was despite economic challenges in some countries, increased regulation and stiff competition in all our markets,” said Dennis M. Nally, Chairman of PricewaterhouseCoopers International Ltd. “Overall, we’re optimistic about prospects for the global economy in the year ahead, and expect global GDP growth to increase to 3.2% in 2015” added Mr Nally.
PwC firms in the Middle East and Africa showed growth of 16%, reflecting PwC’s sustained investment and the growing demand for its services, as these economies rapidly develop and mature. Growth in South America was 13%, with particularly impressive growth in Brazil, given its challenging market conditions. In North America, revenues were up 7%, reflecting ongoing growth for advisory and consulting services in the region.
Revenues also increased across Europe, up 4% in Western and 3% in Central and Eastern Europe, despite continued sluggish economic conditions in many European countries. Growth in revenues from Asia rebounded to 9% in FY 2014, from 2% the previous year. The increase was driven by solid results across the region and particularly from China, India and Japan.
In Australasia and Pacific Islands, PwC firms returned to healthy growth with an increase in revenues of 4%, driven by a focus on the growing advisory services market in Australia. Across all its lines of business and firms, the PwC network serves a wide and diverse range of clients including 84% of the companies in the Fortune Global 500 list, 93% of the FT Global 500 and over 100,000 businesses around the world.
People and numbers
It is worth noting that in FY 2014, PwC firms and people donated nearly US$87 million to community activities and more than 53,000 PwC people donated more than 600,000 hours in professional services and skilled volunteer activities.
PwC continues to focus on recruiting the best talent, adding 45,000 people in FY 2014, including 20,000 new graduates, to bring the global workforce to more than 195,000.
PwC firms help organisations and individuals create the value they’re looking for. We’re a network of firms in 157 countries with more than 195,000 people who are committed to delivering quality in assurance, tax and advisory services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.
