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PwC focused on social mobility and diversity

Sep 27
 
Tags: PwC
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PwC focused on social mobility and diversity

Supporting social mobility and promoting diversity are "vital" to the future success of PwC, the firm has said.

Kevin Ellis, senior partner at the company and its UK chairman, emphasised the importance of these concepts as PwC announced its performance results for the year to June 30th 2017.

The firm recently became one of the first organisations to publicly report its black, Asian and minority ethnic pay and bonus gaps.

It was also one of the first employers to voluntarily publish gender pay gap analysis in 2014 and also submit this information under new government regulations introduced earlier this year.

Mr Ellis commented: "The more transparent we are with our diversity and social mobility data, the more we hold ourselves accountable to achieving real change towards our goal of being a truly diverse organisation."

Other significant recent developments for PwC have included the creation of an alliance with CodeBase, a tech incubator based in Edinburgh, with the aim of supporting fast-growth businesses.

The Scale-up programme helped 33 disruptive firms across the UK expand their operations, while PwC's cyber security practice worked with the National Cyber Security Centre and BAE Systems to uncover a major global cyber espionage campaign.

On the financial front, the firm reported its 14th consecutive year of growth in revenue, which rose by five per cent year-on-year to £3.6 billion.

Its assurance, consulting and tax business divisions grew by four per cent, seven per cent and seven per cent respectively, while the deals practice saw a slight fall in revenue of one per cent.

PwC's profits for the year to June 30th 2017 were down by one per cent, to £822 million.

Mr Ellis said overall business performance was solid, despite a "challenging and complex" market.

"We continued to invest significantly in our core and digital services, new technologies and create jobs, despite a slowdown in some sectors due to uncertainties related to the EU referendum result and the US presidential and UK general elections," he added.

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Image credit: iStock/monkeybusinessimages 

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