PwC nears double digit growth as revenues rise in Yorkshire

he firm, which employs around 900 staff across Leeds, Sheffield and Hull, said revenues had grown across all parts of the business in the year to June 30, 2014.

Nationally, the firm reported revenue growth of five per cent to £2.8bn for the year, up from £2.7bn the previous year.

Total profit for the year increased to £772m, from £750m in 2013. The company did not respond to the Yorkshire Post’s request for its profit-per-partner figure.

Nationally, each of the firm’s four business divisions grew. The assurance practice grew by six per cent to £1bn, tax by five per cent to £714m, deals by three per cent to £580m, and consulting by four per cent to £495m.

In Yorkshire, PwC recently appointed five equity partners and promoted three new directors. It also increased its graduate places by 36 per cent, recruiting 79 graduates and 10 higher apprentices.

The Yorkshire deals teams advised high profile deals including the Bonmarche and Card Factory floatations, the acquisition of Maplin by Rutland Partners, and Endless’ exit from Bathstore.

The region’s assurance division, which includes its audit business, won work with Morrisons and ghd. Risk assurance recorded its fifth consecutive year of double digit growth.

Its business recovery team played a key role in the administration and subsequent sale of Albemarle & Bond, which saved 128 branches and 628 jobs across the UK. The team also led on the financial restructure of Andrew Page.

The public sector practice has invested significantly in the team, appointing two new partners and creating a specialist centre.

Its consultancy business recorded growth of 26 per cent, with significant projects in the retail and public sector markets.

The region’s tax practice continued to expand, particularly within the private business space, supporting M&A activity and research and development credit claims for clients.

The firm supported Welcome to Yorkshire as part of the Tour de France Grand Depart, with a senior manager seconded to the group for 12 months to help deliver the event.

Arif Ahmad, PwC’s senior partner in Leeds, said: “Our Leeds practice has had a fantastic year, with significant growth in revenues across the business, iconic wins, involvement in many of the leading M&A projects, and investment in senior appointments.

“Support of our local community remains a priority. Our Leeds office raised over £25,000 and spent time volunteering to support St Gemma’s Hospice and a number of national charities. We were awarded the Business in Schools Award for our continued work with Immanuel College in Bradford.”

Ian Morrison, PwC’s Yorkshire & North East regional leader, added: “Our strong performance reflects an improving economy, the growing confidence of our clients and the ongoing investment we have made to create a responsible, profitable and well diversified business.

“We have continued to invest throughout the year, admitting new partners and recruiting high levels of experienced hires, graduates and school leavers. This has positioned us well for the return of market confidence and reflects our strategy of building the right team of specialists so that we can continue to help our clients, and therefore the region, be successful.”