Gray and Kempe, has announced that fee income of PW firms worldwide for the year ending June 30, 1992, was $3.8 billion -- up 4.4 percent on the year before.

Worldwide fee income of audit and business advisory services grew three percent to $1.9 billion and tax services were up six percent to $881 million.

Fee income from management consulting services grew by 0.4 percent to $736 million and fee income from other practice areas totalled $260 million, a 24 percent increase over the 1991 period.

PW world firm chairmen Sir Jeffery Bowman and Mr. Shaun O'Malley said revenue growth represented a significant achievement in view of the "severe economic conditions'' in many countries where PW firms operate.

Total growth during the three years from 1990 to 1992 came to 52 percent. PW is a leading worldwide organisation of accountants and auditors, tax advisors and management consultants, with some 49,000 professionals and staff.

The local firm of Price Waterhouse/Gray and Kempe, which employs 38 people in Bermuda, is part of the worldwide PW network.