PKF network's fees climb 7% in 2011

REVENUES GREW 7% across PKF's international firms in 2011. The network of firms posted a combined $2.62bn for the year ending 30 June 2011, compared to $2.45bn a year earlier.

The network's Latin America region grew 41%, while Europe and Africa climbed 16% during the period.

Tax revenues climbed 58% to $724m, while audit & accountancy revenues grew 22% to $1.3bn. Management consulting revenues fell 29% to $262m, and corporate recovery icome fell 69% to $52.4m.

Wolfgang Hofmann, PKF International chairman, said: "Given the backdrop of financial turmoil in the Eurozone and continuing low growth in the USA, it is very encouraging that there are such strong pockets of growth throughout the PKF International network.

"Not surprisingly, PKFI's fastest growth regions of Latin America and Asia Pacific reflect the shift of economic power to the BRIC countries. As we have significantly increased PKFI's representation in these regions over the last 12 months, as well as recruiting a number of strong new firms in Europe in recent months, we are confident of sustaining our growth over the next financial year and beyond."