Revenues and profits dropped at KPMG UK and its European parent struggled in
The UK firm saw revenues fall by 1.6%, to £1.63bn for the 30 September year
Profits fell 1.3% to £382m from £387m.
Europe’s revenues were €3.5bn, a 0.4% decrease on the previous
Its joint chairmen said the results were a “creditable performance”.
“We might have hoped for better economic conditions in our second year as a
merged firm but rather than put our expansion plans on hold we have continued to
pursue a whole range of strategic initiatives that will shape our performance
over future years,” said John Griffith-Jones and Rolf Nonnenmacher.
The German firm posted €1bn of revenues, a 1.7% decrease on the previous
UK audit revenues rose 4.7%, however the drop in corporate finance work hit the
UK and Europe’s tax revenues, falling 12% and 5.4% respectively.
“After two tough economic years, we are hopeful that the economies in which
we operate will provide a more favourable environment.”
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'
Stephen Mills joins the Manchester office from IBM, where he spent 12 years as an associate partner in the data, analytics and cognitive consulting group
Rupert Guppy will be responsible for capital allowances in the southern region, and joins the firm from specialist consultancy E3 Consulting