Professional services firm PwC Luxembourg yesterday reported a 7% growth in revenue for the year ended 30 June 2015, indicating an increase from 315 million to 337 million.
PwC Luxembourg reported the revenue increase as a result of the firm's continued investment in people, training and skills, innovative solutions and technology, with CEO of PwC Luxembourg, John Parkhouse, commenting:
"The momentum in our business today is a reflection of our long-term investment strategy and the decisions we took during the downturn to make sure we deliver responsible growth. Creating jobs, developing skills, supporting the brand and contributing in financial and non-financial ways to the communities in which we live and work and to Luxembourg growth is core to our business."
Revenues also increased 10% to $35.4 billion for PwC globally, representing the strongest growth in eight years.
Business confidence has been improving and the Luxembourg economy has been performing well, maintaining its triple A credit rating and ranking the most competitive country in the European Union, a point picked up on by PwC Luxembourg.
"We relentlessly continue to make sure that Luxembourg is known for its concrete value proposition," continued John Parkhouse. "The country provides a central location from which companies can manage their operations in Europe. It is also the location of choice for firms working in Big Data and turns out to be an attractive proposition for recruiting talent from around the world".
PwC Luxembourg has also taken advantage of the latest technological solutions, including strategy definition, cyber security, data analytics, regulatory reporting and tax monitoring, to deliver to its clients, remaining committed to getting involved in the global debate on tax.
"We're in the middle of a whole new ball game," explained Wim Piot, Managing Partner, Tax Leader. "The international tax framework is not any longer fit for purpose. Current regulatory measures or plans, including BEPS, show that we are moving towards a fair and sustainable tax system. We welcome this effort and think it will boost transparency."
PwC Luxembourg also reported that it has recruited nearly 850 people during the year, including 166 experienced professionals and 420 young graduates, and has advocated for diversity in the workplace as a key strength.
"With 58 different nationalities and a gender-balanced population, diversity is our X factor," concluded John Parkhouse. "This puts us in a distinctive position to provide our clients with real value".
Photo by PwC (L-R: Wim Piot; Rima Adas; John Parkhouse)
