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.
KPMG International reports marginal growth