EY and PwC report 'double-digit' growth

canary wharf
By Isabelle Bell

15 September 2015

Two of the Big Four firms have reported double-digit revenue growth for 2015.

EY posted its fastest global growth since the financial crisis in 2008, with revenues up by 11.6% to US $28.7bn, while PwC announced a 10% increase in UK revenue.

EY said that it had achieved growth across all geographies, key markets and sectors, despite an "uneven global recovery" and ongoing economic uncertainty.

The firm, which employs 212,000 people across the world, saw strong performance in its developed markets, led by the US, the UK, Australia, Germany and Italy, and a 12.3% growth in its emerging markets. India was the fastest growing market for EY in 2015.

Mark Weinberger, EY's Global Chairman and CEO, said he was "confident" that 30% of EY's revenue would come from emerging markets by 2020.

He said: "This year we realised strong gains across both developed and emerging markets, despite volatile conditions in many individual markets and a slowing global economy. While short-term forecasts may be bearish on some emerging markets, we are seeing strong growth in these regions."

PwC's UK revenue grew from £2.8bn to £3.1bn, with its assurance and consulting business divisions posting the biggest figures.  

The firm said that its technology investments – including Strategy& , a cloud based accounting tool for SMEs, and its global collaboration with Google – are enabling PwC to "contribute to the continued growth of professional services", which is " crucial to the knowledge economy".

Ian Powell, Chairman and Senior Partner of PwC UK said:  "The momentum in our business today is a reflection of our long-term investment strategy and the decisions we took during the downturn to ensure that we deliver responsible, profitable growth."

Sources: EY and PwC


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