BusinessCompany NewsPwC reports global profits rise

PwC reports global profits rise

PricewaterhouseCoopers has announced global net revenues of $16.3bn (£8.8bn) for the year ended 30 June 2004, a rise of 6% in local currencies.

Link: Revenues rise modestly at PwC UK

Last year’s revenues stood at $15.8bn.

Globally, profits from audit work rose nearly 10% to $8.7bn, tax revenues were flat at $4.5bn, and advisory services increased by just over 6% to $3.1bn.

Samuel DiPiazza, CEO of PricewaterhouseCoopers, said: ‘We experienced strong performance across all of our businesses in FY04 as a result of improved market conditions in many countries, as well as our success in refocusing our business strategy to adapt to changing client buying patterns and regulatory developments.

‘Our assurance practices are performing very well, and our market share of services to non-audit clients is growing.’

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