KPMG’s global revenues jump 1.4 per cent to a record $23bn

Marion Dakers
KPMG’s global revenues hit a record $23bn (£14.3bn) for the year to the end of September, the professional services firm said yesterday.

Turnover rose 4.4 per cent in local terms across the business, or 1.4 per cent including currency movements.

Chairman Michael Andrew said performance had grown weaker during the year. “2012 was a year of two distinct halves; with growth strongest at 6.4 per cent in the first six months of the year and relatively weaker growth of 2.1 per cent in the six months to September,” he said.

The firm’s global advisory revenues jumped 8.3 per cent to $7.86bn, while the tax arm enjoyed a 6.3 per cent rise to $4.86bn.

KPMG is due to give more details on its European earnings next week, but said yesterday that revenues rose four per cent across the region in spite of the economic turbulence.

The company increased its total headcount by over five per cent to more than 152,000 over the year, while 450 new partners were appointed.