Net sales of PricewaterhouseCoopers Oy increased by almost 9 per cent

In the accounting period that ended on 30 June 2008, the net sales of PricewaterhouseCoopers Oy increased by 9.2 per cent to EUR 86.1 million. Growth was strongest in auditing. The total net sales of the member companies in the PricewaterhouseCoopers chain during the accounting period rose to a record level of USD 28.2 billion. Globally, the most rapid growth was seen in India, China, Hong Kong, Central and Eastern Europe and the Middle East.

"All-in-all, the financial year just ended was a favourable one for us, with our profitability remaining on a good level," says Jan Holmberg, CEO of PwC in Finland.

Accounting services continue to constitute the company’s largest business area, exceeding their net sales and profit targets for the financial period. Net sales amounted to EUR 53.8 million. In the face of what continued to be fierce competition in auditing, PwC obtained several listed companies as new clients, as a result of competitive tendering during the period. PwC thus ensured its leading position as an auditor of companies listed on the Helsinki Stock Exchange.

However, growth in advisory services and tax consultancy remained modest. Net sales for advisory services, at EUR 17.1 million, almost reached the level of the equivalent period year-on-year. Net sales for tax consultancy increased during the period, amounting to EUR 15.2 million.

The unit focusing on private company services, established at the beginning of the financial period, reached its targets.

"General economic growth will slow down during the ongoing financial period," Holmberg states. Net sales in advisory services and tax consultancy are expected to grow, while growth in auditing services is estimated to slacken off. The prerequisite for growth in tax consultancy and advisory services is that no significant slowdown occurs in the corporate restructuring markets. We expect our operations to grow during the financial year according to the set growth and profitability objectives.

In the accounting period just ended, PwC's staff increased by 4.2 per cent. At the end of the financial period, the company employed 702 people, while the number at the end of the previous financial year was 674. The number of women employees has increased during the last two financial years, accounting for 53.3 per cent of the company's staff at the period end.

"We seek to be a desired employer. The well-being of our staff is of primary concern to us, and we have invested heavily in this during the financial year."


Member companies (www.pwc.com) belonging to the PricewaterhouseCoopers' chain provide advisory services, auditing and tax consultancy services. More than 155,000 people in 153 different countries work in the companies belong to the chain. The name PricewaterhouseCoopers refers to member companies in the PricewaterhouseCoopers chain, each of which is an independent legal company.