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December 16, 2010

KPMG UK reports flat revenue

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.

Related articles:

KPMG International reports marginal growth

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