40 Business DECEMBER 2018
Professionals
Senior partner
Nicola QuayleBig Four auditor
sees revenues
jump to £2.3bn
P
rofessional services
firm KPMG has
announced revenue
growth of seven per
cent in its Northern
business as the group
announced its latest
financial results. The ‘Big Four’ firm
reported its strongest growth in a
decade.
Group revenues increased by 8%
from £2.1bn to £2.3bn for the year to 30
September 2018 and underlying profit
increased by 18% year on year, to reach
£356m.
The strong growth comes despite the
collapse of its client Carillion in
January and the widespread concerns
about the audit sector that have led to
multiple reviews of the industry.
Bill Michael, chairman and senior
partner at KPMG in the UK, said:
“These results are the product of the
tough decisions we have made and the
hard work of our 16,000 people across
the UK.
“Since taking on this role, together
with my leadership team, I have
refocused the business on our core
strengths aligned to the firm’s public
interest responsibilities.
“These actions have put us on the
right trajectory. We are seeing growth
right across our service lines, attracting
talented people and winning major
mandates. Our pipeline is strong and I
am excited about the future.”
The group’s northern office has also
had a strong year thanks to a buoyant
M&A market.
Nicola Quayle, senior partner at
KPMG’s Manchester office, said: “Our
Northern business has had another
year of impressive growth, increasing
revenues by seven percent, cementing
our market share and advising on key
transformational projects in both the
private and public sectors.
“This great result is a reflection of two
things. First, it is testament to the talent
and unwavering commitment of our
people. Each and every one of our staff
has had a part to play, and I could not
be more proud of their efforts over the
year. And second, that we continue to
operate in a strong and vibrant regional
economy where organisations, large
and small, regardless of sector, can
disrupt, innovate and grow, in turn
creating opportunities for us.
“A few things in particular have stood
out.
“Nationally, the firm has achieved its
fastest growth in a decade, an
achievement which in no small part
has been powered by the work of our
Deal Advisory teams. I’m delighted
that our Manchester M&A practice has
played an integral role in this, advising
on some of the region’s most
significant
transactionsincluding working with Central Square
Holdings on its acquisition and
take-private of Styles & Wood and
leading on the disposal of Yearsley
Group to Lineage Logistics.
“You only have to look at the
weekend’s headlines to know that data
security is one of the biggest threats
facing business today. Our own
acquisition of Cyberinc has added
further firepower to our regional cyber
security business, making it the largest
such practice in the North. The team
has had a tremendous year, and I have
no doubt that demand for their services
will continue to rocket as organisations
grapple with burgeoning data security
and privacy issues.
“Our Enterprise business is also
going great guns helping privately-
owned companies across the patch
unlock their growth potential. We’re
particularly excited about some of the
work the team is doing supporting
fast-growth tech and digital businesses
in Manchester, Liverpool and beyond,
advising on their funding and scale-up
strategies.”
In the financial year, the group hired
1,365 new graduates and apprentices
across the UK to support the firm’s
growth.This was a record number since its
2011 intake and an increase of 22% in
student recruitment on last year, with
48% of new roles based in the firm’s
offices outside London.
KPMG also introduced eight new
specialist graduate technology training
routes, offering graduates the
opportunity to specialise in some of the
most cutting-edge technological
sectors, such as cyber security.
Quayle adds: “I am incredibly proud
to be partnering with UA92, supporting
them with their social mobility strategy.
“This is a flagship project for the
Manchester office, and one that goes
straight to the heart of our firm-wide
commitment to help tackle social
inequality by improving outcomes for
students who otherwise may not have
considered university.
“Looking ahead, we know that
economic and geopolitical uncertainty
is having a creeping impact on
confidence, which in turn is starting to
bear on investment decisions.
“We remain laser-focused on
supporting North West businesses
through this uncertainty, ensuring that
they are resilient to the challenges
ahead while remaining alive to those
opportunities by which they can grow
and fulfil their potential.
“And of course, our own profession is
undergoing a period of scrutiny,
self-reflection and change as it strives
to re-build trust with the public,
investors and regulators.
“Collectively, we know there is much
work to do, and we will continue to
play our part in shaping the debate and
advocating for change.”Nationally, the firm has
achieved its fastest
growth in a decadeNicola Quayle
KPMG’s office at 1 St
Peter’s Square