Press release

PwC Middle East Revenues Rise 23% to US$339 million

Dubai, 7 October 2012: On October 4, PwC, the world's leading professional services network, reported record global revenues for the fiscal year ended 30 June
2012 of US$31.5 billion, an increase of 8% over 2011.

Within the broader network, PwC in the Middle East Region reported growth of 23%, with total revenues reaching $339 million.  

PwC Middle East Managing Partner, Warwick Hunt, commented that “PwC’s growth in the Middle East reflects our commitment and our goal of becoming the leading professional service provider in the Region.  The year to June 2012 has seen us make substantial progress towards this objective, against a highly competitive environment.   This is a testament to the trust clients have placed in the quality and value of our services, the talent and dedication of our People and the strength of our network across the 12 countries in which we operate in the Middle East.”

PwC has focused on the government, energy, financial services, infrastructure and sovereign wealth sectors.  The Firm’s Assurance, Advisory and Tax lines of service reported increases in revenue of 15%, 27% and 24% respectively.

As part of its commitment to the Middle East, PwC continues to invest heavily in the development of its People.  Over the past year, it has admitted 33 new partners specialising in a full range of industries and competencies as well as expanding its workforce to over 2,700, including almost 1,000 in the UAE.

Mr Hunt added “We will continue to invest heavily in the Region, expanding our capabilities and providing our People with the professional training programmes needed to support the highest value added services we can provide to our clients.  We recognise the importance of personal development as both a driver of our competitive advantage as well as the personal aspirations of every PwC professional.  We take our obligation to assist in the building of capacity and National talent in the Region equally seriously”.
“Our aspirations in the Middle East remain unchanged” Mr Hunt said.  “We are striving to be the premier professional services network in the Region, recognised for our size, the talent of our People and the strength of our brand.  We have made great progress over the last three years and have every intention of continuing to provide outstanding service to our clients, and unmatched opportunities for our people now and in the future.

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About PricewaterhouseCoopers:

PwC firms help organisations and individuals create the value they’re looking for. We’re a network of firms in 158 countries with more than 180,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com.

Established in the Middle East for 40 years, PwC has firms in Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Oman, the Palestinian territories, Qatar, Saudi Arabia and the United Arab Emirates, with around 2,500 people. (www.pwc.com/middle-east)
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

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