PwC takes $26.6bn in global revenues

PwC has taken revenues of $26.6bn (£16.8bn) globally.

The firm's earnings to 30 June 2010 rose by 1.5% compared to the previous year.

However, revenues in the assurance divisions came to $13.3bn, down 1.3% on full year 2009.

The firm cited ongoing pricing pressures in a "fiercely competitive market" as the reason for the decrease.

PwC's tax arms made $7.1bn, down 2.9% year-on-year because of the worldwide slump in corporate deals and restructuring activity.

PwC's revenues were boosted by growth in the advisory businesses.

These divisions collectively made $6.2bn, up 7.9% over the previous 12 months.

PwC’s consulting businesses achieved 15% revenue increase compared to 2009 and the advisory arms are expected to remain a key source of future growth, the firm said.

“The increase in revenues is a creditable achievement and PwC firms in our key countries consistently maintained their positions as market leaders,” said Dennis M Nally, chairman of PwC International.

“This performance reflects the commitment and dedication of our people, and the ongoing effort of PwC firms to manage through the downturn without losing sight of the need to keep focused on the potential for renewed growth," Nally added.

Further reading:

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