Key facts
- PwC UK consolidated group revenue increased 0.4% to £6.35 billion in the fiscal year ended June 30, 2025.
- PwC UK's Middle East business saw revenue growth slow to 0.4% in the fiscal year ended June 30, 2025.
- About 60 partners and 1,500 staff have been cut from PwC's Middle East operations.
- PwC UK's total group profit increased to £1.37 billion in the fiscal year ended June 30, 2025.
- PwC UK's Tax business line led revenue growth at 6%, while Consulting and Risk practices saw revenues decline by 3%.
PwC's UK business has reported steady financial growth, with consolidated revenues rising 0.4% to £6.35 billion for the year ended June 30, 2025. This growth was supported by its domestic operations and a 5% increase in the Channel Islands. However, the firm's wider group revenues were impacted by a significant slowdown in its Middle East business, which saw revenue growth decelerate to 0.4% from 26% in the previous year.
The decline in the Middle East is attributed to a year-long ban imposed by Saudi Arabia's Public Investment Fund (PIF) on new advisory contracts for PwC, following friction over hiring Neom's chief internal audit officer and reluctance to take on audit work. This led PwC to cut approximately 60 partners and 1,500 staff from its Middle East operations, primarily in consulting roles.
Despite these challenges, PwC UK's total group profit increased to £1.37 billion from £1.14 billion in the prior fiscal year. Distributable profit per UK partner averaged £865,000, a slight increase from £862,000 in FY24. The Tax business line recorded 6% revenue growth, while Consulting and Risk practices saw revenues decrease by 3% due to tougher market conditions. The firm also launched an innovation unit called Tech Catalyst and invested in AI training for its employees.