KPMG reports ‘strong’ Midlands performance as it breaks £2bn barrier

Accountancy giant KPMG has reported an increase in revenues from £1.96bn to £2.07bn (nearly 6 percent) for the financial year ended 30th September 2016.

During the year, the firm made 40 internal promotions, accelerating the retirement of a number of partners, all of which led to a reduction of average partner pay from £623,000 to £582,000. In total, KPMG created approximately 1,500 new jobs over the period, with staff numners now just over 13,000

Mike Steventon, outgoing Midlands regional chair at KPMG, said: “2016 was a strong year for KPMG’s Midlands practice and I am extremely proud of our achievements and also of the investment we have made in our people.

“The talented, hard-working colleagues we have within our business is testament to our success, and this is reflected by our financial performance. Progress and innovation in areas such as KPMG Enterprise, private capital and management consulting services, shows we are an adaptable, forward thinking business.

“As devolution starts to reshape our regional economies, there’s a real focus on the Midlands Engine to drive economic growth, and we are committed to contributing to its success. Our ambition is to attract and develop talent in the region and continue to deliver exceptional advice and solutions to our clients, supporting the significant opportunities and challenges that the future will bring.”