Pay cuts at PWC as profits dented Magazine

PwC, the professional services firm, has reported record revenue of three.60bn of their latest year of trading, which ended 30th June 2017.

Revenues were up 5% from 3.44bn during the past year C however, profits dropped with the firm blaming?Britain’s Brexit choose dented profits and triggering pay cuts for senior executives with the accountancy firm

The firm, which includes Yorkshire offices in Leeds, Sheffield and Hull saw?PwC’s consulting and tax divisions, both reporting revenue increases of seven per-cent. But, revenues while in the deals division fell 1 per-cent.

Profits fell to 822m, leading to an 8 percent fall in profits given to all of the 953 equity partners along at the firm bringing the most common profit per partner due to 652,000.

Kevin Ellis, PwC chairman and Senior Partner, says: “Overall, business performance was solid within the challenging and complex market. We continued to pay out significantly with our core and digital services, technologies to make jobs, despite a slowdown insome sectors resulting from uncertainties related to the EU Referendum result, US Presidential and UK General election.

“We saw preferred demand from UK and overseas clients for insurance, regulatory and real-estate services, as well as for logistics, transaction services and value reduction support. Throughout the UK, we grew strongly in Northern Ireland, Scotland, Midlands as well as East.”

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