KPMG International announced record high combined revenues of USD 23.03 billion for the fiscal year ending 30th September 2012, representing a 4.4% increase over the previous year in local currency terms. When adjusted to US dollars, revenues increased by 1.4%, reflecting the relative strength of the US dollar.
At a time of ongoing global economic challenges, the growth reflects KPMG’s continued strategic focus on investments in emerging markets and key service areas, as well as aggressive recruitment of top talent.
In the latest Universum rankings, business students from leading universities around the world voted KPMG as one of the most attractive employers for the third consecutive year, ranking second overall and highest among the Big 4 firms.
Mr Michael J Andrew chairman of KPMG International said that “2012 was a year of two distinct halves; with growth strongest at 6.4% in the first 6 months of the year and relatively weaker growth of 2.1% in the 6 months to September. Growing our business against such a challenging economic backdrop is testament to the quality of our people and the strength of their relationships with clients."
KPMG recorded increased revenues across all functions with particularly strong growth generated in Financial Services, Industrial Markets and Infrastructure, Government and Healthcare. Advisory revenues grew by 8.3% to USD 7.86 billion; Tax revenues grew by 6.3% to USD 4.86 billion and Audit revenues grew by 0.9% to USD 10.31 billion.
Mr Michael said that "The growth in Advisory and Tax underlines the strength of client demand for professional services. On the Audit side, the market has never been more competitive and we are focused on continuing to improve audit quality, as evidenced by our significant investments in our global audit platform that surpassed USD 50 million, in addition to the USD 100 million invested over the past several years. KPMG member firms are also actively engaged with their regulators around the world in constructive dialogue, with the goal of continuing to improve audit quality."
At a regional level, the Americas delivered strong growth for the year, with revenues rising by 7%. The Europe, Middle East and Africa region reported increased revenues of 4% across the region, despite the ongoing economic uncertainty caused by the Euro zone crisis. The Asia Pacific region reported revenue growth of 1.1%, reflecting subdued growth in North Asia.
