PricewaterhouseCoopers said that its fiscal 2004 aggregate net revenues climbed nearly $2 billion to $16.3 billion, an increase of 6 percent in local currencies and just over 13 percent in U.S. dollars.
By service line, global net aggregate revenues from assurance services rose 9.6 percent to $8.7 billion, while advisory services increased by 6.3 percent to $3.1 billion and aggregate tax revenues were flat at $4.5 billion.
"We experienced strong performance across all of our businesses in FY04 as a result of improved market conditions in many countries, as well as our success in refocusing our business strategy to adapt to changing client buying patterns and regulatory developments," said Samuel A. DiPiazza, Jr., chief executive of PricewaterhouseCoopers International Ltd.
On a geographic basis, aggregate net revenue in North America and the Caribbean grew 10.1 percent to $6 billion, driven by new audit requirements that increased demands for services provided by its U.S. assurance practice. Revenue in South and Central America grew 15.2 percent to $305 million, while revenue in the Middle East and Africa grew 12.6 percent to $358 million. Revenue in Europe inched up 2.2 percent to $7.4 billion, while in Asia revenue climbed 6.8 percent to $1.5 billion. Revenue in Australasia and the Pacific grew 7.3 percent to $714 million.
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