PwC hails strong performance in Scotland

ACCOUNTING giant PwC today reported a 10 per cent jump in annual revenues to almost £3.1 billion, helped by double-digit growth at its practice north of the Border.

Lindsay Gardiner is "optimistic" about the year ahead. Picture: Ian Rutherford

The “big four” firm, which said it has ploughed “significant” resources into its Scottish operation, highlighted contract wins with the likes of Aberdeen Asset Management and the University of Dundee as drivers behind the strong performance.

Lindsay Gardiner, PwC’s regional chairman for Scotland, said he was “optimistic” about the year ahead, despite ongoing uncertainties regarding the impact of low oil prices on North Sea investment and concerns over the Chinese economy.

He added: “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.

“The environment for business is relatively strong, and I believe the UK overall will continue to be very attractive for inward investment.”

Today’s figures show profits at PwC rose 6 per cent to £818 million for the year to the end of June, with the average distributable profit per partner before tax coming in at £740,000, up 2.5 per cent on a year earlier.

However, Ian Powell, chairman and senior partner of PwC UK, admitted the firm was not bringing enough women and ethnic minorities into leadership positions.

He said: “If PwC is to stay relevant in the next ten to 15 years, we need to continue to reflect society. We’ve made great strides over the past 12 months to improve social mobility in terms of the people that get access to the firm, but we want to become even more diverse and inclusive.”