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KPMG international reports record revenues of $13.5 billion / Globalisation, industry focus combine to make KPMG leader in many industries
New York (ots-PRNewswire) - KPMG International, the global professional services organisation, today reported record revenues of US$13.5 billion for the fiscal year ended Sept. 30, 2000. KPMG Chairman Stephen G. Butler announced that KPMG's worldwide revenues grew 11 percent in dollar denominated terms, versus last year's total revenues of US$12.2 billion. He pointed out that KPMG International recorded 16 percent revenue growth worldwide this year on a local currency basis. (Logo: http://www.newscom.com/cgi-bin/prnh/20000901/KPMGLOGO ) "Our accelerated pace of globalisation and our line of business go-to-market strategy combined this year to produce record results and profitability -- positioning KPMG as the leader in many of the industries we serve," Butler said. "Globally, KPMG also has stronger geographic balance than the rest of the industry, which has a greater concentration of revenue in the United States." Butler said that KPMG recorded double-digit growth across most of its functional businesses. "Consulting services grew 11 percent this year to $3.9 billion; Tax and legal services climbed 16 percent to $2.9 billion; Assurance services grew by 8 percent, to $5.5 billion worldwide; Financial Advisory Services rose 22 percent, to $1.1 billion; and all other services accounted for $100 million," he said. Butler noted that KPMG also recorded double-digit growth in two of its three geographic regions. "The Americas region advanced 16 percent, to $6.6 billion -- propelled by a 19.4 percent surge in U.S. revenues; Asia Pacific increased by 20 percent, to $1.2 billion; and the Europe, Middle East and Africa region reported a 4 percent growth rate, to $5.7 billion, in dollar denominated terms. The EMA growth rate in local currencies was a substantial 15 percent," he said. "KPMG's continued growth and success reflects the progress we've made in pursing a three-pronged strategy aimed at creating the first truly global professional services organisation, and becoming the very best at both serving global clients and attracting and retaining world-class talent," Butler said. "We're also leading the Big Five in true globalisation, which is our strategic imperative because it has become an essential marketplace imperative for every business. Successfully globalising KPMG will also significantly enhance the chances of success of the other two priorities," Butler said. "KPMG's three operating regions facilitate the movement of people, rapid response client service, and the creation of world-class product offerings that can be tailored to local needs. Deployment of resources is a prime advantage over our competitors, meaning we can extend our reach for multinational clients more effectively than ever before," he added. In other developments in 2000, KPMG: - Announced the incorporation of KPMG Consulting in January, which subsequently filed with the Securities and Exchange Commission a registration statement for an initial public offering of its common stock. KPMG Consulting, LLC is a leading provider of Internet integration services. - Selected J. Walter Thompson worldwide as advertising agency of record to handle its global brand and service line advertising campaign. The new global campaign remains focused on knowledge and insight and emphasises KPMG's brand attributes -- particularly in the fast-moving and complex e-Business environment -- of providing understandable business advice to its clients. - Deployed KClient(TM), a Web-based collaborative tool that sets news standards in the use of technology in managing global client relationships. KClient provides a secure collaborative environment for the KPMG team as well as client personnel, enabling them to share ideas and information on a real-time basis, capture knowledge, tap and manage resources, all aimed at working faster and smarter. "Our confidence and success can also be measured in our hiring results. Despite the intense competition for talent, KPMG continues to attract an increasing number of world-class professionals," Butler said. "The reasons are clear: KPMG's strong growth, our record of innovation, and our focus on building an invigorating culture that brings smart people together in the service of the world's best companies." KPMG reported that the number of partners and professional staff alone had risen to more than 84,600 worldwide this year from 79,900 last year and total personnel increased to 108,000. KPMG is the global network of professional service firms whose aim is to turn understanding of information, industries and business trends into value. With more than 100,000 people worldwide, KPMG member firms provide assurance, tax and legal, financial advisory and consulting services from more than 830 cities in 159 countries. ots Original Text Service: KPMG Internet: http://recherche.newsaktuell.de
Contact: George Ledwith, +1 201-505-3543 or Robert Zeitlinger, +1 201-505-3996, both of KPMG