PwC revenues increase by 5% to hit £3.8bn

Big Four giant PwC UK has reported a 5% increase in revenues for the year ended 30 June 2018, at £3.76bn, up from £3.6bn, and has reversed the trend of the last two years which saw reductions in partners’ distributable profits.

Profit this year was £935m and the average distributable profit for the firm’s 915 partners rose to £712,000, 9% higher than the previous year’s £652,000. Assurance revenues increased by 3% to £1.334bn, consulting revenues were up 1% at £778m; deals grew by 10% to £711m; and the tax practice, which includes specialists in areas such as immigration, legal services and pensions, experienced growth of 7% to achieve £941m.

Kevin El