KPMG profits soar

KPMG recorded its most successful year in 2004/5, with a 21 per cent increase in operating profit to £305 million.

Its strongest performer was Risk Advisory Services ' KPMG's consulting arm ' which saw profits leap by 48 per cent in the year ending September 30, 2005.

Other key results were:
' Turnover for 2005 up 20 percent to £1,281 million (2004: £1,071 million)
' Top-line growth across Audit, Tax and Advisory

Mike Rake, chairman of KPMG International and UK senior partner, said: 'In many ways, 2005 was the most successful year in the history of the UK firm.

Continued...

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Comments
dahowlett's picture

KPMG

dahowlett | | Permalink

Jeff - don't have your email address - mine is dahowlett@gmail.com

KPMG --- what does it stand for??

AnonymousUser | | Permalink

Dennis

If you want to know why I believe it stands for Krap Profits Made Good:

look at the articles published on AccountingWeb re Heritage plc: look at the alleged £771.9m inter-company debtors on Safeways (KPMG audited)last set of accounts (before they were acquired by Morrisons).

If you are still unsure---e-mail me and I will explain further.

Rgds
Jeff Lampert

dahowlett's picture

Is this something to be proud of?

dahowlett | | Permalink

KPMG was slapped $456 mill for flogging dodgy tax schemes. Its staff grew globally around 6% - sounds like ethics isn't high on their agenda when you look at these numbers.