Financial services firm PwC yesterday posted global revenues of $34 billion — a six per cent hike on the previous year.

Figures for the year to the end of June showed increases across the business — with a three per cent increase in the firm’s assurance practice, the largest of its type in the world.

PwC Bermuda CEO Darren Johnston said: “PwC Bermuda’s positive results in financial year 2014 contributed to the strong global performance and are directly attributable to our extraordinary talent who work tirelessly to deliver capabilities and foresight to solve our clients’ important problems.

“PwC’s global performance affirms our commitment to being the leading professional services network.

“Our success is built on the talent of our people, the strength of our unmatched global network and our ongoing investments in the quality of our services here in Bermuda and right across the world.”

The assurance area — PwC’s largest business — took in more than $15 billion on its own — around 45 per cent of total revenues.

The advisory arm of the firm saw its business grow ten per cent year on year, netting $10 billion for the firm — double the revenues of five years ago and 29 per cent of the firm’s total take for the year.

The tax division of PwC — the largest tax practice in the world — increased by eight per cent to $8.8 billion and the firm predicted demand for advice in the area was likely to remain strong due to increasing demand for tax compliance and advisory work.

Dennis Nally, chairman of parent PricewaterhouseCoopers International, said: “This strong performance was despite economic challenges in some countries, increased regulation and stiff competition in all our markets.”

The firm said there had been “strong growth” in both North and South America, the Middle East, Africa and Europe.

Mr Nally said: “PwC’s growth in emerging markets outpaced that in the developed economies. The emerging economies are an increasingly important part of our business — they now make up 20 per cent of our global revenues and are expected to grow substantially over the next five years.”

Revenues from India were up 24 per cent, while those from China and Brazil rose by 11 and ten per cent respectively.

The US posted revenues up six per cent, while the UK rose by five per cent, Germany by four per cent and Japan by 10 per cent.

Mr Nally said the firm — which already employs 195,000 people across the globe — planned to continue recruitment of graduates in the current financial year — particularly in emerging markets and among students from Africa studying abroad who plan to return home.

He added: “We are also actively recruiting students studying science and engineering to meet the growing need for data and analytics expertise by our clients.”

And he said: “Overall, we’re optimistic about prospects for the global economy in the year ahead and expect global revenue GDP growth to increase to 3.2 per cent in 2015.”