Partner Article

Newcastle office drives PwC’s growth

PROFESSIONAL services giant PricewaterhouseCoopers LLP (PwC) has recruited 20 new graduates to its Newcastle operation amid a 4% rise in annual revenues to £2bn.

The firm today announced turnover growth of 4% to £2,331m up from £2,248m in the previous year, with underlying net revenue also increasing 4% to £2,069m.

The company enjoyed a 25% increase in business for its Northern public sector division, while its Newcastle office, based in Sandyford, marked the year with a number of landmark deals.

The firm’s North East Deal Team completed a number of transactions including acting for Wilton Engineering in securing a major investment from Barclays Private Equity and Fonelogistics on its sale to Daisy Plc.

In addition the team secured a significant mandate from one of the world’s largest pharmaceutical companies which will see the Newcastle team co-ordinating divestment services for this client on a global basis over the next few years.

PwC’s North East practice has 20 partners and directors and over 300 employees on Tyneside.

Paul Woolston, senior partner of PwC in Newcastle said: “I believe our strategy of staying close to our clients through the downturn, offering them good value and great service has played a key part in our performance over the last year. We operate successfully across all sectors of business, from the largest listed companies, through to entrepreneurial private companies.

“We remain a key employer in the North East, with 20 new graduates joining our Newcastle office later this month and we will continue to invest in our people, clients and local communities over the coming year. “2010 has been a successful year for the Newcastle office and was made even more special when we were recently named Branch of the Year at the North East Accountancy Awards. This was testament to the talent and hard work of all our staff and their commitment to delivering exceptional client service.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .