Accountancy giant’s UK operation saw revenues for the year to September 30 rise 8% with underlying profit up by 18% to £356m. Tony McDonough reports
KPMG’s Liverpool office has played a key role in the financial performance of the global accountancy giant which has revealed its strongest UK growth in a decade.
It’s UK operation saw revenues for the year to September 30 rise 8% to more than £2.3bn with underlying profit up by 18% to £356m. It’s Northern division, which includes Liverpool, saw revenue rise by 7%.
KPMG employs 110 people at it Liverpool city centre office and senior partner in the city, Euan West, said the operation has seen a number of new people come on board and had worked on some major deals and contract wins.
New hires joining the team at Liverpool Waters included Jane Grainger and Ben Righton, senior managers in the tax and audit practices respectively.
Its local mergers and acquisitions team has worked on a number of “standout” transactions during the year, including the acquisition of Liverpool’s Brookes Bell by insurer Thomas Miller in January.
And the restructuring team was appointed as administrators to a number of Merseyside businesses, including Anaco Systems and Pinnacle Student Developments.
Its core services operation has secured several important wins this year, including new work with Redrow and Smurfitt Kappa for the audit practice, and the provision of support around organisational transformation in several local NHS Trusts for the public sector advisory business.
Mr West said: “Our Northern business has had another year of impressive growth, increasing revenues by 7%, cementing our market share and advising on key transformational projects in both the private and public sectors.
“It’s been just under a year since I took on the leadership of KPMG’s Liverpool office at Princes Parade. And in that short, but exciting period, I’ve seen our commitment to supporting the city region and its business community go from strength to strength.
“Looking ahead, our clients across the Liverpool city region, and indeed the entire north, are going to need even greater support as the UK navigates a period of significant economic and geopolitical uncertainty.
“I’m confident in our commitment to helping local businesses be both resilient to the challenges that lie ahead, and alive to new opportunities for growth. Liverpool’s economic potential continues to grow, and as I enter my second year in role, I’m excited to see our people help the city unlock it.”
KPMG has also forged a relationship with the NSPCC’s Hargreaves Centre in Liverpool in respect of the firm’s commitment to the charity nationally and it also sponsored the Liverpool International Tennis Tournament and delivered a free sports activity day for more than 400 local schoolchildren at Liverpool Cricket Club.