PwC profits on the up despite tough market

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Accounting giant PwC has reported annual profits rising 1.8% to £740m, despite the continuing tough market conditions of the last year.

The Big Four firm’s latest results were boosted by strong growth in its consulting division as growth in its tax advisory business overcame a flat market for takeovers.

Revenues grew by 3% to £2.69bn, up from £2.62bn in 2012, for the year ended 20 June 2013.

PwC partner pay is also back up at pre-banking crisis levels with the average distributable profit per partner currently standing at...

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