With revenues practically on a par with the previous year (CHF 429.4 million, -0.1 percent), KPMG Switzerland defied the difficult market environment and achieved a robust result. Audit succeeded in boosting its earnings to CHF 233.5 million (+4.3 percent) in a hotly-contested market while Tax generated CHF 125.2 million (-1.9 percent), slightly short of last year’s record result. Advisory posted revenues of CHF 70.7 million (-9.9 percent). This function has modified its service portfolio to better suit the market’s new requirements, however, and has now reported growth of +2.0 percent after adjustments.
During the fiscal year ending 30 September 2012, KPMG Switzerland succeeded in achieving a robust result and with gross revenues totaling CHF 429.4 million (-0.1 percent), closed the year practically on a par with the previous year. The adverse market environment was characterized by intense competition, increasing regulatory requirements and delayed investment decisions.