PA Consulting grew revenues to £785 million in 2022
PA Consulting has reported double-digit growth again, as its annual revenues broke past the £700 million mark for the first time. The firm also welcomed 1,300 new colleagues in its latest financial year, as it looks to build upon this momentum.
When PA Consulting announced its results in early 2020, the firm unveiled an ambitious growth plan for the coming years: becoming a £1 billion outfit by the end of 2024. Months later, as the Covid-19 pandemic hit, many might have thought the firm’s growth would have been majorly thrown off that target. After another year of double-digit growth, however, PA now appears to be in striking distance of its lofty ambition.
Thanks to year-on-year growth of 14%, PA saw its fee income hit £785 million – representing a cumulative 96% expansion of its revenue over the last five years. During that growth, PA also strengthened its expert ranks, with more than 1,300 new colleagues, including growing its partner numbers by 52, and awarding 815 promotions.
Looking back on the results, PA Consulting CEO, Ken Toombs, commented, “It has been another year of great accomplishments for PA as we’ve been bringing ingenuity to life. We’ve delivered superb results for our clients, creating lasting value for them. The impact we’ve been able to have is down to our brilliant team. We’re a team of changemakers, and I’m so proud of PA’s incredible accomplishments: with our clients, with one another, and inthe communities where we live and work. Together, we’re building a positive human future.”
The firm’s expansion also saw it welcomed two new teams. The firm acquired Design Partners, an award-winning product design and innovation agency in Europe, and The Cambridge Group, a leading strategy consulting firm in the US. The enhanced services these moves provided saw PA also lauded for a number of key innovation achievements, including a Special Achievement Award from the Industrial Designers Society of America, and Fast Company’s 2022 World Changing Ideas Awards for two sustainability-led client projects.
PA’s teams operate globally from offices across the UK, Ireland, US, Nordics, and Netherlands, with over 4,000 strategists, innovators, designers, consultants, digital experts, scientists, engineers, and technologists. Now in its 80th year, PA will hope tocontinue this growth, with its newly formed team of design, engineering, and science experts continuing to work together across a global network of creative studios, research labs, and engineering centres, creating breakthrough solutions to their clients’ most challenging opportunities.
