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.