PwC sees revenue grow worldwide
PricewaterhouseCoopers has announced worldwide growth of more than 41 percent in its revenue from management consultancy services. The consultancy side of the newly merged business announced worldwide revenues of almost $4bn for the year ended 30 June 1998. Overall global revenue at the company has increased by nearly 20 percent to $15.3bn from last year’s figure of $12.8bn. The figure represents the combined revenues of Price Waterhouse and Coopers & Lybrand before their merger last July.
The growth in consultancy revenues at PwC was dominated by the technology and ERP sectors which accounted for 55 percent of all consultancy income.
Consumer and industrial products made up 34 percent, the services sector which includes government and transportation accounted for 21 percent.
Financial services contributed 20 percent, information, communication and entertainment, 15 percent and energy 10 percent.
James J Schiro, CEO at PwC, said: “We have achieved impressive growth across all regions and service lines, despite some problems in some Asian markets. Our financial results demonstrate the power of our new organisation to withstand economic difficulties. They show that our ability to provide global, integrated solutions – unaffected by regional problems – is resonating with companies around the world. That is what the merger is all about.”
In the 1998 MC league table, Coopers & Lybrand had the highest fee income at #243m with PW fourth with an income of #150m.