PwC 海角视频 has reported a single-digit growth in revenue, despite a decrease in the group's profit and partner pay. The PwC 海角视频 group, which encompasses the 海角视频, Middle East and Channel Island businesses, saw a nine per cent increase over the last financial year, with revenues rising to £6.3bn from £5.8bn.
The firm experienced three per cent growth in the 海角视频 and nine per cent in the Channel Islands, but it was the Middle East that led the way with a 26 per cent rise in revenue. The consulting arm of the business was the strongest division, with an 18 per cent overall increase (£2.03bn), followed by the audit practice with a 10 per cent increase (£1.49bn).
The tax group saw a four per cent rise and the deals business increased by five per cent. However, risk revenues were slightly down from last year, falling by one per cent, as reported by .
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Despite the increase in revenue, the total group profit for the financial year was £1.14bn, down from the £1.3bn reported last year. Furthermore, the distributed profit per 海角视频 partner averaged £862,000, a five per cent decrease from the £906,000 reported in the previous year.
The Big Four firm has been investing heavily in technology and other strategic priorities, pumping over £100m into platforms including AI.
In May, the company struck a significant agreement with OpenAI which established PwC as the most substantial consumer of ChatGPT Enterprise and its inaugural reseller. It also built a bespoke GenAI platform for its employees.
Marco Amitrano, PwC's senior partner, said: "Our business has to mirror those of our clients not just what they're looking for now, but what they'll need for the future.
"Even in a subdued market, we've continued to invest while managing our costs and adapting the way we work to respond to new opportunities."
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Amitrano also touched on strategies for expansion, adding that "different businesses will have different levers for growth ours include expanding in-person collaboration, new skills training and more rapid adoption of technology."
He said: "By pulling these levers, we can better support other businesses, improve productivity and help drive inclusive growth. The professional services sector is one of the 海角视频's real success stories and will continue to be a driving force in the next era of growth," he stated.