Printer Friendly

KPMG 1992 REVENUES LEAD AT $6.15 BILLION

 NEW YORK, Dec. 18 /PRNewswire/ -- KPMG, the international accounting and consulting firm, announced revenues of $6.15 billion, up 2.3 percent over the previous year's fee income of $6.01 billion. With these results the firm maintains its position as the world's largest professional services firm.
 Revenue generated overall in Europe increased to $3.2 billion, which represents 52 percent of worldwide revenues and confirms KPMG's position as the dominant professional services firm in Europe. The United States firm, KPMG Peat Marwick, reported revenues of $1.8 billion, remaining steady with the prior year's results.
 Excluding Australia and New Zealand, which were both affected by a strong recession, KPMG's Asia Pacific regions grew 18 percent over the prior year reflecting that regions' economic expansion. During 1992 KPMG entered into a joint venture in China, the first of its kind. Latin American operations reported a 14 percent growth rate.
 Jon C. Madonna, chairman and chief executive of the U.S. firm, commented on the firm's results. "Two years ago, we began to address a number of infrastructure and partnership issues that we considered critical to our future success. We are now redefining the future of our firm's business by focusing on the markets we will serve and the services we will deliver. The results of these actions will provide the basis for our future growth."
 Through 135 offices in the United States, KPMG Peat Marwick provides industry-specific accounting, taxation and consulting services to a broad range of businesses and other organizations in the financial, commercial and service sectors. The worldwide KPMG network has more than 76,000 people operating in 125 countries.
 FEES
 (U.S. $ in Millions)
 Geographic Breakdown: 1992 1991 Change
 Africa 74.7 65.9 11.8 pct.
 Asia/Pacific 523.8 524.0 -0.1 pct.
 Europe 3,221.9 3,081.1 4.5 pct.
 Middle East 14.0 13.1 6.9 pct.
 North America 2,231.4 2,249.6 -0.8 pct.
 Latin America 87.7 77.3 13.6 pct.
 Total 6,153.6 6,011.0 2.3 pct.
 -0- 12/18/92
 /CONTACT: Barbara A. Kraft of KPMG Peat Marwick, 212-909-5266/


CO: KPMG Peat Marwick ST: New York IN: FIN SU:

LR-AH -- NY023 -- 8137 12/18/92 10:40 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 18, 1992
Words:380
Previous Article:HOLIDAY OUTLOOK BETTER THAN EXPECTED
Next Article:/C O R R E C T I O N -- KPMG/
Topics:


Related Articles
CURRENCY AND STOCK MARKET TURMOIL LEADS TO DECLINE IN CROSS-BORDER M&A
/C O R R E C T I O N -- KPMG/
KPMG PEAT MARWICK SOUTHERN CALIFORNIA ANNOUNCES NEW PARTNERS
CORPORATE FRAUD ON INCREASE, KPMG SURVEY FINDS
KPMG PEAT MARWICK LAUNCHES MARKETING PROGRAM IN U.S. TO PROMOTE GLOBAL LEADER STATUS; FIRST TELEVISION, NEW PRINT AD CAMPAIGN DEBUTS
KPMG WORLDWIDE REVENUES REMAIN STEADY AT $6 BILLION
RECORD SALES ACHIEVED BY KPMG PEAT MARWICK; STRATEGIC SHIFT HITS BOTTOM LINE
KPMG 1995 WORLDWIDE REVENUES CLIMB TO $7.5 BILLION
KPMG REPORTS REVENUES OF $2.5 BILLION; SECOND CONSECUTIVE YEAR AT RECORD PACE
KPMG Reports Revenues of $3 Billion; Growth Seen Across All Practices, Lines of Business

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters