KPMG UK has reported stable profits of
£1.6billon for the year ending 30 September 2010.

Revenue was down £24million with the highest
drop reported for audit and tax services.

The consulting service line reported the
highest growth of 13.3%, contributing £397million to profits.

KPMG UK’s results make up those of KPMG
Europe, which reported revenues of €4.1bn ($5.4bn), down 3% from
the last fiscal year.

The audit service line was down 7% at
€1.7billion and tax was down four percent at €716million. The
performance and technology service line grew by 17% making it the
only service line reporting growth.

KPMG Europe chairman John Griffith-Jones said
the firm generated strong financial performance in a tough economic
environment and a year in which it made significant progress in
building up its European firms.

The UK revenue ranks KPMG as the third largest
firm in the UK behind PwC and Deloitte.

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