PwC posts 13.4pc rise in revenue

Global professional services firm PwC achieved gross global revenues of $50.3 billion, up 13.4 per cent in local currency and 11.4 per cent in US dollars year-on-year in the 12 months ending on June 30 this year.

Revenue growth was strong throughout the year, following the rebound in the last quarter of FY21 as the impact of the Covid-19 pandemic subsided, PwC said in a press release yesterday.

"In a year of rapid change and numerous challenges globally, our talented people used their broad and diverse range of capabilities to support our clients and stakeholders and to make positive contributions to society," said Bob Moritz, PwC's global chairman.

"The results we achieved in FY22 are a direct outcome of our strategy, The New Equation, which we launched in June 2021. Its impact is apparent in our financial performance."

Moritz, said: "For the first time, PwC firms across the world earned gross annual revenues of more than US$50 billion. During a difficult year for the global economy, we achieved growth in all businesses while also repositioning our portfolio including 17 acquisitions and the disposal of our Global Mobility & Immigration business."