KPMG Global posts modest 2010 revenue increase

KPMG’s global network saw a 2.6% increase in fee revenues to $20.63bn for the last year.

Revenues for the year ending 30 September 2010 increased from $20.11bn a year earlier, however, the increase was just 0.1% in local currency terms compared to dollars.

“These combined FY10 revenues overall reflect positive and improving business performance across the KPMG network of firms and functional businesses worldwide,” said Timothy P Flynn, chairman of KPMG International.

Asia Pacific was KPMG’s strongest performing region, while BRIC countries grew 7.5%.

Europe, Middle East, Africa and India posted $10.83bn in revenues compared to $10.73bn a year earlier.

Global audit services decreased slightly, to $9.91bn compared to $9.95bn in 2009 – a 0.4% decline in dollar terms and 2.9% in local currency.

Advisory services grew to $6.57bn in 2010 from $6.07bn a year earlier. Performance and technology services drove the growth, increasing by 12.7% with double-digit growth in the UK, Canada France and the US, plus high growth markets in developing countries.

Tax services revenues grew to $4.15bn from $4.09bn.




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