Global professional services provider, PricewaterhouseCoopers (PwC) has reported a 7% growth in revenue for the full-year period that ended on June 3oth, 2019. The company specifically earned a total of $42.4 billion from its operations from across six regions namely: the Americas, Western Europe, Central & Eastern Europe, Middle East & Africa, Australasia & Pacific, and Asia.
Note that during the comparable period in 2018, the company’s global operations realised a total of $40.6 billion.
Majority of the revenue in FY 2019 was made from the Americas ($17.8 billion) and Western Europe ($14.1 billion). Meanwhile, Central and Eastern Europe generated the least amount of money for PwC at $940 million. African and Middle Eastern operations accounted for $1.6 billion out of the total revenue reported for the period under review. Note that PwC Nigeria falls right under here.
Further breakdown of the earnings report shows that the service that generated the most money for PwC in 2019 is “assurance”. Apparently, the company has three major services it provides – Assurance, Advisory, and Tax & Legal. These services fetched the following amounts of money:
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Assurance: $17.3 billion
Advisory: $14.3 billion
Tax & Tax: $10.6 billion
While commenting generally on the earnings report, PwC said that companies around the world have continued to demand the services it provides. This explains the reason for the 7% increase in revenue. There was no further breakdown highlighting profit for the period or the cost of operations.
“As our clients face increasing challenges and opportunities driven by technological advances, stakeholder expectations and other changes, they require us to work together across the broad range of our operations helping them to deal with issues such as cybersecurity, trust, regulation and strategic workforce planning. And as a result, our business is growing rapidly in these areas to meet increased client demand.”