PwC presented its financial results for the financial year ending in June 2017 during its annual meeting held on Friday, 22 September in Limassol. The organisation’s revenue totalled €77.8m, confirming its leading position in the Cypriot market, while its total contribution to state revenue was €27.7m.
Taking part in this year’s annual conference were more than 140 executives of the organisation and 13 leading executives from the international network of PwC. It was addressed by PwC Cyprus CEO Mr Evgenios Evgeniou as well as the Chairman and Senior Partner of PwC United Kingdom Mr Kevin Ellis through video link.
Finance Minister Mr Harris Georgiades, who participated in a luncheon with PwC international network ’s leading executives and analysed the latest developments in the Cyprus economy, stated “There is no doubt that during the past years, the services sector has proved its resilience, its potential and its solid foundations which are based on particular and significant competitive advantages. The same way the sector stood still, the Cyprus economy did so as well, in order to succeed in recovering and regaining its growth potential. PwC has a leading role in the services sector and this explains our traditional presence in its Annual Meetings”.
In his address, Mr Evgeniou stated “In this ever-changing and highly competitive international environment, Cypriot businesses must embrace and implement new strategies for growth. Our priority is to strengthen our position in the digital economy and to continue exploring new ways in which we can create value for our clients. And of course, we shall continue being on the frontline of the wider effort to promote Cyprus as a business and investment centre. Above all, I would like to thank our clients for their trust and the people of the organisation for their devotion and passion throughout this journey”.
During the presentations and discussions that followed, PwC executives were informed about the most significant milestones of the financial year 2017. As was pointed out, during the financial year the organisation focused on the evolvement of its strategy by reorganising its lines of service with the aim to further strengthen the quality of services it offers as well as to introduce new ones, which meet the needs of its clients and of the market in general. It is worth noting that, special emphasis was placed on technology and transformation issues in order to ensure a dynamic presence in the digital era.
In addition, a reference was made to the collaborations between PwC Cyprus and bodies and institutions which support young people who want to develop their ideas and contribute to the creation of an innovative and knowledge-based economy.
PwC’s Annual Review is available at www.pwcannualreview.com.cy