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KPMG International has announced aggregated network revenue of US$24.82 billion for the year to 30 September 2014, up 6.3 per cent in local currency terms over the previous year.
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KPMG announces strong revenue growth
11 December 2014
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The strong result was underpinned by strong growth in the Americas where the firm saw a 10.1 per cent spike in revenue.
The Asia-Pacific region realised revenue growth of 3.8 per cent, a result the firm described as “a positive performance in the context of the challenging economic conditions for many of the region’s leading economies”.
John Veihmeyer, chairman, KPMG International, said he was pleased with the firm's efforts in a tough environment.
“The companies we serve are operating in an increasingly complex, global and rapidly changing environment, which demands that we provide a broad range of services and solutions, seamlessly and consistently across the world,” Mr Veihmeyer said.
“The quality and breadth of professional services we offer, combined with significant investments we’ve made to strengthen and broaden our services and capabilities, has enabled us to achieve strong and sustainable growth in 2014. At the same time, we have recruited 18,000 graduates and grown our headcount to 162,000 professionals.”
Advisory services led the way globally with revenue growth of 10.4 per cent driven by strong demand for KPMG's management consulting services, which delivered 9.6 per cent growth, and risk consultancy, which grew 12.3 per cent for the year.
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Tax revenues were up 6.1 per cent for the year, driven by increased demand for both compliance and tax advisory services across the globe.
Audit also performed strongly, with revenue up 3.8 per cent for the year, ahead of the 1.2 per cent growth in the prior year. This comes in as EU audit reforms drive an unprecedented level of audit tenders.
“The US$600 million multi-year investment to continuously enhance the quality of the KPMG audit was maintained and extended, and we were proud to win a number of significant audit appointments, including American Airlines, Mapfre, ING, Panasonic, Renault and Vale." said Mr Veihmeyer.
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