KPMG global revenues climb 7.6%
Advisory growth drives up KPMG's global revenues to $16.9bn (£8.6bn)
KPMG firm’s global revenues grew by 7.6% to $16.9bn (£8.6bn) for the year
ended 30 September 2006.
Asia Pacific was KPMG’s
fastest-growing region with growth of 13.7%, followed by Europe, Middle East
and Africa (12.4%) and Americas (4.3%). The EMEA region was worth $8.8bn to the
firm over the last year.
‘Overall, this has been another strong year for KPMG, marked by exceptional
performances in some of the key areas of the world,’ said
KPMG International chairman Mike Rake.
Advisory was the fastest growing service line at 12.9%, which chief executive
Mike Wareing believes vindicated the firm’s decision to create a global advisory
division.
Wareing said: ‘We saw opportunities in some of the fast-developing markets
early, and have invested carefully. We are now starting to reap the rewards of
those decisions. We also saw increased activity in our firms’ advisory
practices, because of buoyant global stock markets.’
Combined revenues for audit, at $8.3bn, rose by 8.9%, and tax services grew
by 6.4% to $3.3bn.
In local currency terms KPMG’s revenue grew by 9.6% over the period.
Further reading:
Big jump in global E&Y revenues
Deloitte global revenues top £10bn