PwC FY 2009 Revenues Rise Modestly From FY 2008 Despite Tough Environment

PricewaterhouseCoopers just released its FY 2009 global revenues for the year ending June 30, 2009, which came in at US$26.2 billion, a 7.1% decline from the US$28.2 billion in FY 2008 in US dollar terms. However, on local currency terms FY 2009 revenues were actually higher than FY 2008 by a modest 0.2%. These results were clearly impacted by two large macro factors. The global economic crisis put a sudden halt to the multi-year annual growth in revenues as clients withheld spending on professional services. The other impact was FX, as the appreciating dollar over the reporting period resulted in lower US dollars for each unit of local currency leading to a reduction in revenue on US dollar terms from FY 2008 to FY 2009...

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