KPMG Consulting has recorded revenue for the year through September 30 up 17.3% at $12.2bn, driven by advances in consulting services, which rose by 32% to $3.5bn and made up 34.8% of the total. This contrasted with the partnership’s other divisions, insurance services and tax services, which grew more slowly by 9% to $5.1bn and 16.5% to $2.3bn, respectively. KPMG’s consulting practice has been at the forefront of the company’s recent headlines as well as its financial results. In November, it snagged a $1bn investment from networking giant Cisco Systems Inc (CI No 3,797).
The UK arm recorded yearly profit available to partners up 42.8% at 362.2m euros ($365.1m) on gross fees that increased 26.7% to 1.5bn euros ($1.5bn). Again, the growth was driven by strong consulting revenue, particularly in e-commerce, where fees have doubled since 1997 to $453.2m.
