LONDON: Accounting firm KPMG has announced a boost in revenues driven by its tax and auditing services, writes Emily Davies. Its takings rose from £1.9billion to £1.96billion in the year to September 30.
Efforts to focus on its most popular services paid off, with profits from auditing rising 9 per cent from £181million to £197million, while income from its tax services rose 17 per cent from £129million to £151million.
Despite strong revenues, pre-tax profits were down 7 per cent from £414million to £383million as KPMG spent more on its business to fuel growth.
The company, which employs 11,652 staff in the UK, channelled £196million into acquisitions, property, staff training and development.
UK chairman Simon Collins said: ‘Though growth is not yet where we want it to be, we have held our nerve on our investments and I am pleased that we are now seeing returns. ‘Our audit business performed well… and we now audit more listed businesses than any other firm.’
