PracticeAccounting FirmsKPMG reports growth in Europe

KPMG reports growth in Europe

KPMG's year-end results show a performance boost of 3.5% compared to last year, particularly in Europe and in its financial advisory services.

Link: KPMG battles French audit laws

The Big Four firm said it was able to increase its overall revenue by 3.5% to $10.7bn (£6.9bn) for the year ending on September 30, 2002. Strongest performance was marked in financial advisory services, which recorded an 8.6% growth.

KPMG showed its strongest regional growth in Europe, the Middle East and Africa, with and increase of 6.4%. Its America’s revenues remained nearly the same as last year.

‘We’re pleased with our overall performance, particularly in a year during which our profession experienced unprecedented change,’ said Mike Rake, chairman of KPMG International.

To calculate its 2002 growth figure KPMG revised last year’s comparitive figure. Rake said KPMG downsized the previously reported revenue total from $11.7 to $10.3 to reflect the separation of its remaining consulting business.

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