Belfast Telegraph

Friday 29 August 2014

PwC posts 11% profit rise as it increases recruitment

One of the UK's big four accountancy firms reported an 11% hike in profits after it "held its nerve" and continued to take on staff despite challenging markets.

Professional services firm PwC, which has a significant presence in Northern Ireland, recruited 2,300 people in the year to June, including more than 1,200 graduates and 100 school-leavers.

Contract wins with Aviva, Dubai World and Yule Catto boosted its auditing and assurance division and helped the firm report "a strong performance" in the year despite a "very challenging" market. Revenues in the UK rose 7% to £2.6bn, while profits were up 10.8% to £727m.

Average profit per partner rose 4.6% to £798,000, although the amount they received after payments to retired partners and equity adjustments fell 4% to £679,000.

Ian Powell, PwC UK chairman and senior partner, said: "We have recruited significant numbers of new people, and invested heavily in our infrastructure to make sure we deliver a world class service to our clients."

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Comment

More

Company Profiles

More

Help & Advice

More

People on the move

More