Net sales of PricewaterhouseCoopers Oy increased by almost 13 per cent
In the accounting period that ended on 30 June 2007, the net sales of PricewaterhouseCoopers Oy increased by 12.8 per cent to EUR 74.2 million. The consolidated operating profit was EUR 2.1 million or 2.8 per cent of net sales.
Net sales from audit services improved almost as planned during the accounting period. Net sales amounted to EUR 45.4 million. The number of requests for quotation remained high during the period, and more time was spent on processing quotations.
Among PwC´s business areas, the strongest growth was seen in advisory services. Net sales for the period amounted to EUR 15.4 million (comparable net sales in the previous year stood at EUR 11.4 million). The number of mergers and acquisitions in Finland during the period was record-breaking, which was also reflected in the demand for associated advisory services. Demand was high also for management consultancy and advisory services for risk management.
Tax consultancy improved its position during the period. Net sales increased to EUR 13.3 million, which represents a 17 per cent increase on the previous year. Particular areas of growth included personal tax consultancy, transfer pricing and tax consultancy related to corporate arrangements. The lively mergers and acquisitions market was also reflected in increased demand for tax consultancy services.
The growth in PwC’s personnel continued during the period but slowed down slightly from the previous year. The number of personnel at the end of the period was 674, consisting of 331 men and 343 women. The average age of personnel at the end of the period was 38 years.
- In spite of intensifying competition, the outlook for the future is promising. General economic growth is expected to increase the demand for advisory services particularly for corporate arrangements and public sector services, says Jan Holmberg, Managing Director. Tax consultancy is also expected to further improve its position. On the other hand, growth in the auditing market will be modest compared to PwC’s other business areas.
