PW income hits all time high at $5bn
Price Waterhouse’s annual global income smashed through the $5bn (#3.2bn) mark in the year to June, continuing a trend of double-digit growth.
The firm’s worldwide chairman Dominic Tarantino reported that annual revenue was $5.02bn, the highest in PW’s history and up from $4.46bn the year before.
Management consultancy income grew by 20% with a 13% sector rise in Europe.
Corporate finance practices recorded a 15% rise, while audit, business advisory, tax and legal services each notched up a 10% rise in fee income.
Figures were not released for PW practice in the UK.
Tarantino said: ‘Our continuing growth and strong operating results demonstrate the success of our global investment strategy in both established and developing markets. ‘
The firm also recorded 17% growth across the Asia/Pacific region. Chinese revenue doubled, while income soared by 44% in Eastern Europe.
Tarantino added: ‘In these developing markets, and in developed markets around the world, much of our investment has been focused on training and development. If continuing double-digit revenue growth is an important indicator, we are clearly on the right track.’
