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KPMG UK has announced a 16% increase in revenues to £2.72bn, up from £2.35bn, for the financial year ended 30 September 2022.
This is the firm’s second consecutive year of double digit growth. The company also announced that its profit before tax increased to £449m, up from £436m.
KPMG’s consulting practice saw net sales increase by 22% to £811m and its deal advisory team recorded net sales of £443m, an increase of 24%.
In addition, the firm’s audit practice saw net sales increase by 10% to £695m, while its tax and legal division delivered strong growth of 13%, with sales reaching £455m.
These results also come after the firm invested £130m into new hires, alliances and technology to try and grow the business.
In May, KPMG awarded employees a flat salary increase of between £2,000 and £4,000. Overall it increased its annual wage bill by £132m and distributed a significant bonus pot of more than £105m to employees.
Jon Holt, CEO, said: “We have delivered another year of strong performance thanks to the hard work and dedication of our people. Our three-year strategy, focussed on investing for the long-term, is delivering.
“We’re growing in a way that enables us to invest for the future, meet client demand, strengthen our multi-disciplinary services and recognise our people. Every area of the business contributed to our growth, showing the important role our multidisciplinary model plays to support our clients with their most complex issues.”
