MANAMA: KPMG International announced aggregated network revenues of $24.44 billion for the fiscal year ending September 30, representing an 8.1 per cent increase in local currency terms, up from 6.3pc in the previous year.
“This has been an exciting year for KPMG, as we have continued to innovate and invest at a record pace to meet rapidly changing global business demands. The breadth of services offered to clients has expanded considerably, with significant investment in new technologies such as real-time D&A, a record number of acquisitions, and bringing on board thousands of new, highly talented professionals,” said KPMG International chairman John Veihmeyer.
Europe, Middle East and Africa region (EMA, including India) revenues grew by 4pc, down slightly from the 4.7pc growth recorded in fiscal year 2014, reflecting the continued economic challenges faced by some countries in the region. Strongest growth within the region came from India at 18.3pc and MESA (Middle East and South Asia) at 12.7pc.
KPMG Fakhro in Bahrain and Qatar managing partner Jamal Fakhro said: “KPMG is truly a global network and I am proud to see such great results for the firm as a whole. Locally, despite difficult market conditions – largely due to the impact of low oil prices, our business continues to grow. We are mirroring the global firm’s investment in people, services and technology and our clients are feeling the positive impact of this. I would like to personally thank our clients and Bahrain’s business community for continuing to choose and support KPMG.”
KPMG is in the third year of a five-year, $1bn, global investment programme focused on developing new D&A solutions, state-of-the-art technology and services, making strategic technology acquisitions and investing in high growth markets. In the past 12 months, KPMG member firms around the world have completed a record number of 29 significant transactions.
KPMG has maintained its long-standing focus on recruiting top talent in the financial year 2015. The organisation recruited a record high of more than 24,000 graduates, as well as experienced hires, including 352 new external hire partners who joined 643 newly promoted KPMG partners – the largest new partner class KPMG has ever had. KPMG’s global workforce grew by more than 7pc to almost 174,000 partners and staff, the highest number of individuals ever employed across the network.
“Our people are at the heart of our business and, thanks to our commitment to learning and development; we were delighted to promote 90 people this year including two new directors. We continue to attract great talent and over the past 12 months, have taken on 43 new recruits from outside of the business. We are also helping to develop young Bahraini talent by offering placements to our highest performers in member firms around the world through the Jassim Fakhro Fund,” Mr Fakhro said.