KPMG partners receive windfall as accountancy giant sees profits soar
Accountancy giant KPMG has seen revenues and profits rise on the back of what it is calling a “resilient” performance – as partners and staff cashed in on a £100m bonus pot.
Turnover rose by 10% to £2.35bn for the year ending September 30 2021, while profits rose substantially – from £288m to £436m.
The firm’s partners received a windfall of £688,000 each – up from £572,000 last year. Chief executive Jon Holt earned £1.7m during the period.
Karl Edge, Midlands regional chair, said: “Businesses across the region continue to deal with a multitude of challenges, including supply chain issues, inflationary pressures and COVID-19, and require specialist expertise to help them navigate the complex environment in which they’re operating. As a result, demand for our services has grown as our clients look to us for advice and tailored solutions. We’ve seen growth across all of our service lines and there’s a strong demand, in particular, for corporate finance services, as businesses look to M&A as a route to growth and transformation. Low interest rates and the abundance of private equity money coupled with high quality businesses seeking growth opportunities has driven record deal flow which we believe is likely to continue in 2022.
KPMG’s Midlands region is made up of two offices in Birmingham and Nottingham.
