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PwC global revenues rise to record $35.9 billion

Staff Writer |
The PwC network reported total global gross revenues of $35.9 billion for the fiscal year ended on 30 June 2016.

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At constant exchange rates (local currency), PwC's total global revenues rose by over 7%. More revenue growth is coming from developing markets – particularly Asia where revenues grew by 10%, with strong performances in India and China.

In North America and the Caribbean revenues grew by 8% boosted by a strong performance from the US, company's largest market in the world. While in South and Central America, revenues were up 9%.

In Western Europe growth was steady, up 6%. Central and Eastern Europe posted robust revenue growth of 10%.

Serving the needs of the capital markets is the core of company's assurance business and company's brand. Demand for company's network’s audit and assurance businesses remains strong despite fierce competition and price pressure across the world.

In FY16, PwC’s $15.3 billion assurance business grew by 6%. Broader assurance services such as IT, risk and data assurance are all areas where PwC is driving innovation and increasing investment.

Advisory growth of 8% to $11.5 billion, was driven by an increased demand from clients for company's network’s strategy through execution services and by excellent growth across a broad range of consulting, forensics and deals-related work.

In particular, cyber security, digital and data & analytics services benefitted from company's significant recent investments.

The strong market for deals positively impacted company's network’s tax operations, with revenues increasing by 7% to $9.1 billion. In addition there was continuing strong demand for compliance, corporate consulting and business structuring work globally.

Quality continues to be the driving force of all PwC’s operations around the world. In FY16 alon

$500 million was invested to further enhance the quality and delivery of company's services as we continue to focus rigorously on meeting the needs of company's stakeholders.

The PwC network welcomed a record level of new joiners to the network, adding 58,081 people in FY16, including 26,780 graduates.

Overall PwC’s global headcount grew by over 7% to more than 223,000 people. The largest increases in workforce were in the strongly-growing markets of Asia and Central and Eastern Europe. In addition 83% of people say they are proud to work at PwC.


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