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KPMG UK’s revenue growth slumped to 1 per cent for the year to September, a sharp slowdown on the previous two years, as the Big Four firm battles to repair its image.
The accounting firm on Wednesday said it generated revenues of £2.99bn last year, up from £2.96bn the previous year. It reported growth of 9 and 16 per cent in its 2023 and 2022 financial years, respectively.
Pre-tax profits were up 11 per cent year on year to £404mn. That followed an almost 20 per cent drop in profits the previous year. The firm credited the rebound to “steps [taken] to manage its cost base”.
Average partner pay grew to £816,000 from £786,000 a year earlier. Jon Holt, chief executive of KPMG UK, called the results a “good performance in challenging market conditions”.
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