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2015 Annual Review

How we made the difference in 2015

2015 was an exciting year for PA – for our clients, our people and our firm as a whole. Find out what our Chairman and Chief Executive Officer have to say about 2015, check out our key facts and figures, and read more about how we continue to make the difference for businesses, communities and individuals around the world.


Chairman's and CEO's statements

Chairman's statement

Designing and implementing the many changes that have taken place this year has been exciting and I am looking forward to the positive impacts that will be felt by our clients in 2016 and beyond.”

Marcus Agius      
Chairman

A lot happened in 2015, a year of significant achievement for PA. We completed a comprehensive strategic review of our firm, entered into a new partnership with the Carlyle Group and delivered solid growth in our business performance.



Read full statement >

Marcus Aguis

“Designing and implementing the many changes that have taken place this year has been exciting and and I am looking forward to the positive impacts that will be felt by our clients in 2016 and beyond.”

Marcus Agius  
Chairman

A lot happened in 2015, a year of significant achievement for PA. We completed a comprehensive strategic review of our firm, entered into a new partnership with the Carlyle Group and delivered solid growth in our business performance.

Delighting our clients and our people

In 2015 we undertook a wholesale review in order to ensure that our strategy continues to meet, and exceed, the growing expectations of our clients and our people. As a result, we transformed our go-to-market model, bringing together our industry experience and worldclass service expertise in a new and more effective way so that we bring the best of PA to our clients. As part of this, we have consolidated and developed the ‘gold standard’ services that we will take to our clients around the world. We also launched a global brand campaign to build greater awareness of PA and to demonstrate how and why we make a difference to our clients and to society more broadly. This was supported by the release of our flagship research report, Innovation as Unusual, which attracted high-profile media coverage across our focus regions and which has created many opportunities to meet with current and future clients. Finally – and perhaps most importantly – we have embarked upon a significant programme of investment in our people to ensure we attract and retain the best talent in the consulting industry. This is underpinned by the newly launched PA Academy – a world-class learning and development capability that will help our people to develop the consulting, management and leadership skills to be at the forefront of our industry.

Building a platform for the future with the Carlyle Group

In 2015 we entered into partnership with the Carlyle Group. Following an overwhelmingly positive vote by PA shareholders, we agreed an investment by the Carlyle Group in a 51 per cent equity interest in PA. The partnership will accelerate the delivery of our strategy and growth plans, bring us access to a wider network of sales opportunities and provide us with the support of an organisation and brand that is globally recognised and respected. Critically, the partnership allows us to retain our culture and independence while enabling current and future PA people to own a share of the firm and, through this, to benefit directly from the value they create for our clients and PA. We believe there is a strong cultural affinity between the two firms, given our common interest in seeing PA succeed, and I am much looking forward to working with our new partners.

As a consequence of our new arrangements, there have been a number of changes on the Board. Five longstanding directors stepped down: Esther Dyson, Michael Queen, Richard Wilson, Tom McEwan and Tom Mullen, and our sincere thanks go to them for the valuable contributions they have made to PA’s success over the years. Following the confirmation of the investment, we were pleased to appoint the following PA colleagues as new directors: Nick Chaffey, Matthew Gordon, Emma Hardaker-Jones, Kully Janjuah and Hamish Maule. Alan Middleton and I look forward to working with the new directors as we set the course for future success.

Delivering solid business performance

In addition to laying the foundations for future growth, in 2015 we recorded a solid business performance. In support of our growth plans, and reinforced by the new partnership with the Carlyle Group, we grew our overall operating capacity by 10 per cent. As a result, we achieved an operating profit of £30.9 million, a decrease compared with 2014 as PA absorbed the early cost of the greater number of new hires. However, we saw a 2 per cent growth in Group turnover to £431.7 million. We are confident that we will see our investment bear fruit in the coming months and enter 2016 in an extremely favourable position and with fewer distractions.

Designing and implementing the many changes that have taken place this year has been exciting but complex, and I would like to thank the many PA people who have worked so hard to make it possible. I am delighted with the way in which our people have embraced the changes, and am looking forward to the positive impacts that will be felt by our clients and people alike in 2016 and beyond.

Chief Executive Officer's statement

In 2015, we made the difference for our clients, society and PA. We enter 2016 well positioned for an exciting new phase of performance and growth.”

Alan Middleton
Chief Executive Officer

Our strong performance for clients delivered £372 million of consulting revenue in 2015, up 4 per cent on 2014. We worked with over 900 organisations worldwide to deliver exceptional results. Our new strategy and partnership with the Carlyle Group is a significant change that positions us to thrive and grow in 2016 and beyond. Our pro bono work continues to make a real difference to society.

Read full statement >

Alan Middleton

“In 2015, we made the difference for our clients, society and PA. We enter 2016 well positioned for an exciting new phase of performance and growth”

Alan Middleton
Chief Executive Officer

Our strong performance for clients delivered £372 million of consulting revenue in 2015, up 4 per cent on 2014. We worked with over 900 organisations worldwide to deliver exceptional results. Our new strategy and partnership with the Carlyle Group is a significant change that positions us to thrive and grow in 2016 and beyond. Our pro bono work continues to make a real difference to society.

We delivered exceptional results for our clients

We are proud of our 2015 performance, and I would like to highlight a few of our client achievements:

  • we helped the UK Royal Air Force understand how it could unlock the full potential of its intellectual capital and ensure innovation remains at the heart of its culture
  • in the United States we defined a three-year strategy to develop CHEST, one of the world's most innovative medical societies
  • we provided the insight and expertise to help Drayson Technologies empower communities to tackle air pollution and save lives
  • we worked with Pemex to define the tariff and business model for Mexico’s newly liberalised energy sector.

Last year I was also delighted to announce that PA has joined Sir Ben Ainslie and Land Rover BAR in their challenge to win the America’s Cup in 2017. Together, PA and Land Rover BAR have launched the Technical Innovation Group, and PA is bringing together the best of British industry from outside of sailing to contribute to this unique technical and sporting challenge.

We refreshed our strategy and invested significantly in our people

To achieve our growth ambition, we must continue to help our clients navigate their biggest and most complex challenges and opportunities. In 2015 we made a number of important changes to our go-to-market model that will enable us to go even further in bringing the very best of PA’s world-class services and in-depth industry expertise to each and every client. Many of our clients have already commented favourably about the benefits of these changes.

Attracting and developing brilliant people is at the heart of our strategy, and I am pleased to have welcomed over 600 new colleagues to PA in 2015. We have transformed our approach to learning and development across the firm to ensure that we remain the consultancy of choice for our clients and our people.

With the strength of the Carlyle Group alongside us, we will be able to invest more in our existing activities and accelerate expansion plans in our chosen regions and industries.

Our pro bono work continues to focus on the development of young people

In 2015 PA and our people gave time and experience to several charitable organisations around the world. A particular focus of our pro bono work is to help young people achieve their aspirations. Our Raspberry Pi competition, which develops the engineers and computer programmers of the future, attracted over 90 entries from schools across the UK and received widespread media coverage. We also launched an exciting new initiative with Teach First, which will see PA people and retirees mentor newly qualified teachers to help develop the leadership skills they need to excel in the classroom.

As we move into 2016 I look forward to delivering more groundbreaking and innovative solutions for our clients, achieving our growth ambitions with support from the Carlyle Group and working with the talented individuals in PA. As always, I thank our clients for placing their trust in us and our people for their energy and commitment. Together, we make the difference.



2015 facts and figures


How we made the difference for our clients

2015 brought new challenges and opportunities for organisations in every industry. Many looked to PA for the groundbreaking solutions and innovative thinking they needed to respond. We worked with over 900 clients around the world to deliver exceptional results with lasting impact. Here are just a few highlights.

PEMEX
Drayson Technologies
CHEST
NHS Education for Scotland
Transport for London
Adlens
UK Ministry of Defence
AER Oman

Supporting innovation in society

Innovation is at the heart of PA. We are passionate about sharing our expertise and supporting innovation in society. We work with young people and both new and established organisations to help them challenge the status quo, generate new ideas and achieve inspirational results.

Teach First

Teach First
Read more

Raspberry Pi Competition 2016

The PA Raspberry Pi competition 
Read more

Land Rover BAR

Land Rover BAR (Ben Ainslie Racing)
Read more


Our insights

In additional to our client work, we pride ourselves on being at the forefront of the debate on some of the biggest issues affecting our clients’ industries. From creating a culture of innovation to combatting cybercrime, read our latest insights and research here.

Discover our latest insights


Get in touch

Download a copy of our 2015 Annual Review

Annual Review 2015

Download a copy of our 2015 Report and Accounts

PA Consulting Group Report and Accounts 2015

Additional information

Annual review archive

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