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KPMG's U.S. Revenue Rose 17 Percent to $5.4 Billion NEW YORK, Oct. 18, 2000 (SmartPros) Tax, accounting and consulting giant KPMG said its U.S. revenues for its fiscal year ended June 30 rose 17 percent to $5.4 billion, marking the sixth straight year of double-digit growth. In addition, the firm recorded net income of $1.3 billion for the same period, a 25 percent increase over fiscal 1999, the company said. The company said its assurance services grew 16 percent to $1.9 billion and its tax services revenues were up by 17 percent to $1.2 billion. KPMG Consulting grew 20 percent over the last year to nearly $2.4 billion. In a move to spin off its consulting arm, KPMG has filed with the Securities and Exchange Commission for an initial public offering of its common stock. KPMG Consulting recently increased its IPO from about 324 million shares to some 367 million. -- SmartPros News Staff Send comments to information@smartpros.com |
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