The multinational corporation PwC reported a drastic decline in profits in the Asia-Pacific region by 12.7% in the third quarter of 2024. This development is directly linked to severe scandals that have significantly shaken trust in the company. In particular, PwC lost important clients in China after the revelation that the company was involved in the accounting of the insolvent real estate developer Evergrande. Additionally, PwC was forced to sell its government consulting division in Australia after a partner misused confidential information.
Globally, however, PwC was able to increase its profits by 1% and recorded a revenue record of 55.4 billion USD, an increase of 3.7% compared to the previous year. The Asia-Pacific region, struggling with a revenue decline of 5.6% to 9.3 billion USD, remained the smallest and most affected market. In contrast, revenues in the Americas grew by 3.4% to 24.3 billion USD, and in the Europe, Middle East, and Africa (EMEA) region by 8.6% to 11.8 billion USD.
The scandals in China and Australia led to significant internal restructurings.
The heading is not provided in the text you shared. If you can provide the specific heading you want translated, I'll be glad to help.
The negative developments in the Asia-Pacific region are also reflected among competitors. Deloitte and EY also reported weaker growth figures in their most recent fiscal years, which is putting pressure on the entire consulting industry.
