Scottish growth boosts PwC to exceed £3bn turnover

Lindsay Gardiner
Lindsay Gardiner, regional chairman of PwC in Scotland

Professional services firm PwC has announced revenue growth of 10 percent over the past year, supported by double digit growth in the Scottish practice.

PwC saw its total revenue grow to £3,083 million for the year ending 30 June 2015, up from £2,814 million the previous year, while regional revenues grew by 15 percent with growth in all UK regions.

Profits increased by 6 per cent to £818 million as the firm continued to invest heavily in its staff, training and skills, infrastructure and technology.

The Scottish practice has also delivered a strong performance across all business areas, reporting double digit growth in 2015, buoyed by significant internal and external audit wins, regulatory consulting, and growth in our technology and cyber business.

During the last seven years, close to £1 billion has been invested in growing the UK firm.

In Scotland, growth initiatives have included the appointment of 18 equity partners, around 600 student recruits, and the opening of two environmentally sustainable offices in Glasgow and Edinburgh.

Lindsay Gardiner, regional chairman of PwC in Scotland, said: “Our forward looking investment strategy over the last seven years has enabled us to hold our nerve and retain our focus on what really matters: our clients and our people.

“As a result of the decisions we have taken, we have been able to create jobs, develop skills, invest in new business areas such as digital and cyber, generate GDP, and contribute both financially and in non-financial ways to the communities in which we live and work. This approach is core to our strategy and has helped us grow a diverse, responsible, and profitable business.

“In 2015, we’ve promoted 8 partners and directors across our three offices and will bring on board 140 graduates and work experience interns. Our core assurance, tax, consulting and deals teams have performed well in their markets, while our newer cyber, digital and technology consulting businesses have been growing in strength.”

He added: “The economy is performing well and business confidence continues to rally. Uncertainties remain, however, particularly with regards to ongoing low oil prices on North Sea investment and operations and, further afield, the potential impact of activity in China and the East on Scotland and the UK.

“I am, however, optimistic about the year ahead. Scottish businesses are incredibly innovative as has been demonstrated through this year’s Private Business Awards and Scottish Business Awards entries, the environment for business is relatively strong, and I believe the UK overall will continue to be very attractive for inward investment.”

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