PwC promises new jobs for graduates - graduate jobs

Although PricewaterhouseCoopers (PwC) suffered a decline in profits, the professional services firm has announced plans to produce as many as 800 new jobs, including opportunities for graduates.

In its financial results for the year ended June 30, the firm posted pre-tax profits of £665 million - down 3% from £688 million. Also, there was a 2% decrease in the average payout for its partners to £759,000.

The trading update, however, also highlighted a 4% increase in the company's turnover to £2.33 billion.

According to PwC, heavy investment during the year - such as the construction of its new environmentally friendly office in London - led to the fall in profits. Other investments included the recruitment of new staff and partners.

Stressing on the importance of investments to bolster the UK's economic recovery, the firm has called on the Government to introduce measures to make sure the country is considered as "open for business".

Ian Powell, PwC chairman, said: "The Government is clearly addressing the debt burden and making spending cuts is unavoidable, but the emphasis must be on investing to accelerate business growth in the interests of the UK's long-term economic health."