Key Points
- PwC UK’s revenue increased by 2% to £4.365 billion for the financial year ended 30 June 2026, according to PwC and City AM.
- Profit per partner rose 8%, from £865,000 to £935,000.
- PwC said its UK tax, consulting, deals and audit businesses recorded revenue growth, with the firm describing the period as its “largest sales quarter on record”.
- Across the wider PwC UK group, which includes the Middle East and Channel Islands businesses, total revenue fell by about 3% to £6.16 billion.
- Middle East revenue fell by 15% to approximately £1.69 billion, according to Financial News and other reports.
- The wider group’s consulting revenue declined by about 10%, while risk revenue fell by about 9%.
- PwC said the Middle East performance reflected regional conflict, wider market disruption and currency movements.
- PwC senior partner Marco Amitrano said UK growth had partly offset more difficult trading conditions in the Middle East.
- PwC’s workforce across the UK, Middle East and Channel Islands fell from about 35,430 to 31,206, according to Financial News.
- The firm has also been reducing costs and restructuring parts of its business as the professional services sector faces weaker consulting demand and rapid developments in artificial intelligence.
- City AM’s Rosie Harris-Davison reported that PwC has also been reducing UK headcount, including cuts affecting its audit workforce.
- Financial News journalist Zoe Hu reported that PwC promoted 47 directors into its UK partnership in July 2026, compared with 40 in 2025.
- The results highlight a contrast between continued growth in PwC’s UK operations and pressure on parts of its wider international business.
PwC’s latest financial results show a mixed performance across its UK and wider operations, with the UK business recording 2% revenue growth while weaker Middle East trading conditions pulled down the performance of the wider group. For the year ended 30 June 2026, PwC’s UK revenue reached £4.365 billion, while average profit per partner increased to £935,000. At group level, however, revenue fell by around 3%, with the Middle East business particularly affected by regional conflict, market disruption and weaker consulting demand.
What happened to PwC’s UK revenue in 2026?
PwC’s UK business increased revenue by 2% during the financial year ended 30 June 2026, reaching £4.365 billion, according to the company’s financial reporting and City AM’s report by Rosie Harris-Davison.
The increase represents an improvement from the previous year, when UK revenue growth was considerably more limited. City AM reported that UK revenue growth increased from 0.3% in the previous year to 2% in the latest financial year.
PwC’s own reporting describes the UK performance as resilient, with the firm pointing to continued demand across its services and sectors. The company’s financial performance data confirms that UK revenue reached £4.365 billion.
The UK operation is the largest component of the PwC UK group, but the group also incorporates operations in the Middle East and Channel Islands. Consequently, the stronger UK result did not prevent overall group revenue from declining.
The results therefore present two different financial pictures: growth in PwC’s core UK business alongside significant pressure elsewhere in the wider organisation.
Why did PwC’s wider group revenue decline?
The principal pressure came from PwC’s Middle East business, where revenue fell substantially during the year.
Financial News, in a report by Zoe Hu, said Middle East revenue declined by 15% to £1.69 billion. The decline contributed significantly to the approximately 3% reduction in revenue for the wider group.
The Financial Times, in reporting carried by The Irish Times, also highlighted the Middle East consulting business as a major factor behind the overall decline. The report said the Middle East business had been affected by a prolonged slowdown, with the decline outweighing the 2% increase recorded by the larger UK operation.
PwC itself attributed the difficult Middle East trading environment to several factors. Its explanation included regional conflict, wider market disruption and currency movements.
These factors affected demand for professional services at a time when consulting firms are already dealing with changes in corporate spending and increasing use of technology and artificial intelligence.
The Middle East had previously been an important source of growth for professional services businesses, particularly through consulting work. The latest figures indicate that the environment has become considerably more challenging.
How much did PwC partners earn during the year?
Average profit per partner at PwC rose to £935,000, up from £865,000 in the previous financial year.
Financial News journalist Zoe Hu reported that the increase represented an 8% rise in average partner earnings. The figure returned partner payouts to above £900,000, a level last seen in 2023.
The increase in average partner earnings occurred despite the decline in wider group revenue.
Partner remuneration is an important measure for large professional services firms because the partnership structure means that changes in profitability and partner numbers can influence the amount distributed among partners.
The latest figure therefore sits alongside the firm’s broader cost-management and workforce-reduction measures.
Which PwC divisions grew and which declined?
PwC reported growth across several of its UK business divisions.
City AM’s Rosie Harris-Davison reported that tax, consulting, deals and audit all recorded revenue growth in the UK business. PwC described the period as its “largest sales quarter on record”.
However, the picture was different when the wider group’s business lines were considered.
Financial News reported that group-wide tax revenue increased by 3% to £1.26 billion, while audit revenue increased by 1% to £1.48 billion. Deals revenue was broadly unchanged at approximately £1.05 billion.
Consulting and risk experienced declines. Consulting revenue fell by approximately 10% to £1.82 billion, while risk revenue fell by approximately 9% to £543 million, according to Financial News.
The divergence is significant because consulting has historically been one of the most important revenue streams for large professional services firms.
PwC also announced that its UK risk division would be merged into its consulting business from 1 July 2026, a restructuring that forms part of the firm’s response to changing market conditions.
What did Marco Amitrano say about PwC’s performance?
Marco Amitrano, senior partner of PwC UK and PwC Middle East Alliance, said the company’s transformation programme was producing results.
As reported by Rosie Harris-Davison of City AM, Amitrano said: “Our continued transformation is delivering results.” He noted that UK revenue growth had increased to 2%, compared with 0.3% in the previous year, and said the UK performance had partly offset more difficult trading conditions in the Middle East.
Amitrano also said there was further work to do and that PwC’s focus was on maintaining momentum, continuing its transformation and helping clients pursue opportunities.
He pointed to the uncertain economic environment while identifying technology, artificial intelligence and new sources of capital as areas that businesses were examining as they sought to transform and grow.
His comments place technology and AI among the issues shaping PwC’s strategy, alongside broader questions around productivity, investment and business confidence.
How has PwC responded to changing market conditions?
PwC has been taking steps to manage costs and reshape its workforce as demand for some professional services has weakened.
Financial News reported that the average number of employees across PwC’s UK, Middle East and Channel Islands businesses fell from 35,430 to 31,206 during the year.
That represents a reduction of more than 4,000 people across the combined operations.
The Irish Times, citing Financial Times reporting, similarly reported that PwC reduced its overall staff by more than 4,000, while salary spending fell by approximately £164 million, or 6%.
The reductions come against a wider backdrop of slower consulting demand. Large professional services firms have been reassessing workforce requirements as clients become more selective about consulting expenditure and artificial intelligence begins to alter how professional services work is delivered.
City AM’s Rosie Harris-Davison also reported that PwC had been reducing its UK headcount. In July, City AM reported that the firm was cutting jobs in its audit division, with senior associates and managers among those targeted.
PwC is not alone in adjusting staffing levels. City AM has reported similar workforce measures at other major professional services firms, including KPMG.
What changes have taken place in PwC’s UK partnership?
Financial News journalist Zoe Hu reported that PwC promoted 47 directors to its UK partnership in July 2026, compared with 40 in 2025.
The number remained below promotion rounds seen in earlier years, reflecting the more cautious environment facing professional services firms.
Financial News also reported that PwC had moved a small group of UK partners into managing director positions during the previous two years. Similar changes have been reported elsewhere across the Big Four.
These developments show that workforce and partnership structures are changing alongside the wider professional services market.
At the same time, PwC’s average partner earnings increased, creating a contrast between higher partner payouts and a smaller overall workforce.
How important is artificial intelligence to PwC’s strategy?
Artificial intelligence is becoming an increasingly important factor in the professional services industry, and PwC has identified technology and AI as areas where businesses are seeking support.
Amitrano told City AM that businesses were interested in understanding how technology, AI and new sources of capital could help them transform and grow.
PwC’s previous financial reporting has also highlighted investment in technology and training. In its 2025 results, the firm said it had launched Tech Catalyst, an innovation and AI unit designed to accelerate technology-led change, while also investing in AI skills for its workforce.
The latest results suggest that AI remains part of a wider transformation programme rather than being treated as a standalone technology initiative.
For professional services firms, the development is particularly relevant because AI can affect both internal operations and the services delivered to clients. It can automate or support parts of research, analysis, reporting and other knowledge-intensive processes while creating demand for new technology, governance and risk expertise.
This makes Artificial Intelligence (AI) and Data Science and Visualization relevant areas of professional development as businesses consider how technology is changing professional and corporate services.
What does PwC’s UK performance mean for the professional services sector?
PwC’s results provide an example of the uneven conditions facing major professional services firms in 2026.
The UK business continued to grow, while the wider group was affected by weaker Middle East performance. Consulting and risk faced particular pressure, while tax, audit and deals showed greater resilience.
The figures also illustrate how geopolitical developments can affect professional services revenues. PwC specifically linked the difficult Middle East environment to regional conflict, market disruption and currency movements.
At the same time, firms are responding to structural changes, including slower consulting demand, workforce adjustments and the rapid development of AI.
The combination of these factors means that financial performance is increasingly connected to how professional services firms manage costs, deploy technology, structure their workforce and respond to changes in client demand.
For organisations dealing with financial planning, corporate transformation and operational change, these developments also underline the continuing importance of Accounting, Finance and Budgeting, Management and Leadership, and Project Management skills in navigating changing business conditions.
What happens next for PwC?
PwC’s immediate focus will be on maintaining growth in its UK operations while addressing weaker conditions in parts of its wider international business.
Marco Amitrano said PwC intended to maintain momentum and continue its transformation programme. He also pointed to the potential for the UK economy to support further investment, productivity and growth.
The challenge is that the firm’s wider results remain influenced by conditions outside the UK. The Middle East business experienced a substantial revenue contraction, while consulting and risk revenues declined across the group.
PwC is therefore entering the next financial year with a combination of UK growth, international pressure, workforce restructuring and continuing investment in technology.
The latest results do not point to a uniform direction across all parts of the business. Instead, they show how different markets and service lines are responding differently to geopolitical disruption, economic uncertainty, changing consulting demand and technological change.
For the UK operation, the 2% increase in revenue to £4.365 billion provides evidence of continued activity. For the wider group, the 3% revenue decline demonstrates the financial impact of weaker international trading conditions.
As reported by Rosie Harris-Davison of City AM, PwC’s UK business has maintained growth despite the difficult wider environment. Meanwhile, Zoe Hu of Financial News reported the substantial reduction in Middle East revenue, workforce changes and the increase in average partner earnings. Reporting from the Financial Times, carried by The Irish Times, further highlighted the prolonged weakness in the Middle East consulting business.
Taken together, the results show a professional services group balancing UK growth against international challenges while adapting its workforce, business structure and technology strategy to a changing market.