Revenues rise modestly at PwC
PricewaterhouseCoopers has reported a modest 4% growth in turnover to take the total up to £1.56bn, for the financial year to 30 June 2004.
PricewaterhouseCoopers has reported a modest 4% growth in turnover to take the total up to £1.56bn, for the financial year to 30 June 2004.
Link: Rivals close the income gap with PwC
The firm’s second annual report, out today, also shows that the profit share of Kieran Poynter, PwC’s UK chairman, rose to £1.75m, up from £1.48m in 2003.
PwC also reports that growth supported by a 16% increase in revenues from services to non-audit clients.
Average profit per partner was up 5% to £511,000.
The firm reports strong growth in assurance (8%) and advisory (9%). Tax services saw a revenue drop of 4%, put down to the impact of regulation on listed audit clients.
Kieran Poynter said: ‘Our growth includes a healthy 16% increase in revenues from companies we do not audit, reflecting our decision to focus on this area. Of the firm’s 25 largest clients by revenue, 14 are now non-audit clients compared to eight a year ago.’
He added: ‘In the short to medium-term I see substantial growth opportunities for all our businesses. These opportunities are there because we are putting effort into the relationships we build, the way our teams work together and our relentless pursuit of quility in everything we do.
He said the latest results followed two of the toughest years he could remember in the UK professional services market. He said it was a ‘result of sticking to a simple winning strategy – being the leader in the markets we choose to serve and being a great place to work for all our people.’
Horwath Clark Whitehill was paid £500,000 to audit the group accounts.
The numbers you crunch tell a story. Your expertis...
20yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThree years after accountancy group DJH Mitten Clarke launched, they have announced that they have rebranded to DJH. The DJH Mitten Clarke name reflec...
View articleStatic budgets outdated. Embrace agile budgeting for a smooth year-end close and adapt to changing markets. Read More...
View articleSaffery Champness's strategic rebrand to "Saffery" reflects a bold step towards aligning its historic values with a modern, innovative ethos, fosterin...
View articleSumer’s CEO Warren Mead believes accountants have a responsibility to champion smaller and medium-sized businesses and that successful entrepreneurs a...
View articleMid-market firms experience largest percentage increase in fee income in 2023, as consultancy services start to become leading income streams for the ...
View articleBaker Tilly International has today announced record global revenues of US$5.2bn for the financial year ended 31 December 2023, up 11% on the previous...
View articleWhilst Small and Medium Enterprises (SMEs) account for around half of the turnover in the UK private sector[1], our own AAT research shows that over a...
View articleGrant Thornton UK as confirmed the appointment of Malcolm Gomersall as its new Chief Executive Officer. Gomersall, who has been with the firm for over...
View article