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KPMG posts record global revenues

Dec 19
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KPMG posts record global revenues

KPMG has announced that it brought in record global revenues of US$29 billion (£23 billion) in the financial year to September 30th 2018, a 7.1 per cent increase from the previous year's $26.4 billion.

Advisory was the fastest-growing of the company's three functions, expanding at a rate of 9.9 per cent from a year earlier, while audit and tax services also brought in more revenue.

The business grew across all key regions, with Asia-Pacific revenues up by 8.7 per cent, compared to 8.1 per cent in the 2017-18 fiscal year. The Americas and Europe, Middle East and Africa region provided increases of 6.2 per cent (up from 4.4 per cent) and 7.3 per cent (up from four per cent) respectively.

KPMG made more than 55,000 new hires during the year to September 30th 2018, taking the organisation's global workforce to a record high of 207,000 people.

The firm took on some 39,000 graduates and entry level staff, while almost 10,000 new jobs were created.

Stating a continued focus on "building an inclusive and diverse culture", the company increased female representation to 24 per cent at partner and director level and broadly maintained gender parity across its workforce as a whole.

KPMG international chairman Bill Thomas said: "We are making record investments in our business to help clients capitalise on the unprecedented transformation they are going through.

"We are committed to continuously improving the quality of every service we provide, recognising the vital role we perform for clients and capital markets."

The firm has also continued to invest in a global, multi-year programme providing funding of more than $4 billion for various new services, technologies and acquisitions over the next four years. The initiative is particularly focused on transformative technologies such as artificial intelligence, automation and cyber security.

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Image: marchmeena29/iStock

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