January 25, 2021

PwC closes 2018 with a profit of 38.637 million dollars, 9.6% more

PwC closes 2018 with a profit of 38.637 million dollars, 9.6% more



The firm Price Waterhouse Coopers (PwC) closed the year 2018 with a net income of 38,637 million dollars, 9.6 percent more than in the same period of the previous year, this in part to its investment in technology and human capital , informed the auditing company.

The figures corresponding to the fiscal year, which ended on June 30, 2018, also totaled some 41,300 million dollars in gross profits, surpassing for the first time the goal of 40,000 million dollars, reveals a PwC report to world level.

This sustainable growth in the international area, highlights the increase in revenues in America with (4.2%); Asia (15.1%); Australasia and Pacific (7.4%); Central and Eastern Europe (10.3%); Western Europe (6.4%) and Middle East and Africa (12%).

The president of PwC Global, Bob Moritz, said in a company statement that the growth was possible thanks to the market focus, the hard work, professionalism and dedication of 250,000 employees, as well as the use of technology and quality in the services they offer.

"Our entire network is focusing on implementing better technology ideas for our stakeholders, by 2019 we will have invested more than $ 1 billion in enabling our business in the cloud, which will help maximize the quality and impact of our services and solutions, "he said.

The document indicates that in the services of the operations of the review of information or "Assurance", PwC grew 4%, that is to say, that it obtained about 17,000 million dollars.

This, required by the complexity of business, the emergence of technologies, the regulatory environment and the increased attention of interest groups, which boosted the demand for general reliability services, especially in areas such as data analysis, security and cybernetic privacy and business system solutions.

On the focus on quality and innovation in the assurance segment, in this period the "Halo" information verification platform was used to examine more than 105 million data lines. In addition, the firm foresees that the artificial intelligence tool "GL.ai", designed to detect anomalies in financial records in organizations, is available in 2019.

In the strategic consulting division or "Advisory", PwC increased revenues by 10 percent, totaling 13,800 million dollars. This service was mostly required by the financial services, consumer markets, technology, private capital, media and telecommunications industries.

Regarding Tax and Legal Services, the multinational network indicated that its revenues increased by 8 percent, that is, up to 10,400 million dollars, due to the magnitude and complexity of the change in various tax systems national and international, including the impact of the US tax reform.

In the topic of recruitment and talent development, the company reported that in 2018, the global number of employees increased by 6 percent, exceeding 250,000 people. The largest increase in personnel was registered in Asia (14%), Central and Eastern Europe (10%).

Globally, 64,776 people joined, including 27,016 recent graduates and 32,924 professionals with experience. Almost half of all the staff that joined the audit firm is female.

The company also registered a total admission of 739 partners around the world. Of that figure, 30 percent of new members are women. This group of representatives gradually increased from 13 percent in 2006 to 20 percent in 2018.

PwC, recognized for providing quality assurance, advice and tax work, also aims for a new and ambitious global objective: to invest in the future and growth of 15 million people, to help them maximize their potential in 2022.

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