Member Article

KPMG Celebrate successful year

2011 was a successful year for KPMG after the firm reported revenues of £1.7 billion, representing growth of 7%.

In the North East the firm has also witnessed an increase in turnover to a total of £103 million, a robust performance given the challenges economic conditions.

While the firm is delighted with it’s positive results, Mick Thompson KPMG’s Newcastle office senior partner believes that the firm must now build on its good work for success in 2012.

He commented: “Our skills and the quality of our team stand us in good stead, supported by our continuing investment in resource, particularly in critical areas such as management consulting.

“As businesses pursue efficiency and performance improvement programmes, strategic advice from these growing parts of our business will be called upon by our clients in this region.

“So, we have a good deal to achieve and significant potential for success, in terms of meeting and exceeding client needs in 2012, building on our creditable 2011 results.”

Nonetheless, KPMG are still preparing themselves for a tough finacial climate in light of last years events.

Mr Thompson continued: “We are braced for more of the same in 2012 and while we would all wish for better trading conditions than those we are probably going to get, our risk management and restructuring experts will be highly relevant to businesses in a flat, uncertain - and looking further afield, possibly turbulent - market.

In the past year the firm has advised more than 70 deals in M&A, including the Mils group, Kitwave, Onyx, Daniel Foods and Astrum, and has built on their strong relationship with SSI after advising on the acquisition of the Corus’ Teesside Steelworks.

“Our Restructuring practice has had a busy year working on many confidential turnaround projects that have helped to preserve thousands of jobs in the region during 2011 as well as insolvency appointments including Amdega,” he concluded

“And the achievements of our people have been recognised both internally and externally with three director promotions announced; Hilary Stone in Tax Litigation, Paul Glendenning in Audit and Caroline Laffey in Employment Taxes. Caroline was also named this year’s Tax Accountant of the Year in the North East Accountancy Awards, which saw KPMG also claim the award for Corporate Finance deal of the year (for Kitwave).”

This was posted in Bdaily's Members' News section by Ruth Mitchell .