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Our firm

Financials

Our financial performance

2022
2021
2020
Total revenue /
£2.72bn
£2.43bn
£2.30bn
£2.40bn
FY22
FY21
FY20
FY19
Increased/decreased revenue /
+12%
+6%
-4%
+3%
FY22
FY21
FY20
FY19
Profit before tax and members’ profit shares /
£449m
£436m
£288m
£307m
FY22 1
FY21 1
FY20 1
FY19
Average partner distribution /
£717k
£688k
£572k
£640k
FY22
FY21
FY20
FY19

1) The FY22 figure excludes profit on disposal of our MBS business in the Netherlands. The FY21 figure excludes profit on disposal of our restructuring business. The FY20 figure excludes profit from the disposal of our Pensions business.

Net sales growth

Audit /
10%
5%
+3%
+10%
FY22
FY21
FY20
FY19
Tax and Legal /
13%
8%
-6%
+3%
FY22
FY21
FY20
FY19
Consulting /
22%
13%
-2%
-2%
FY22
FY21
FY20
FY19
Deal Advisory /
24%
31%
-1%
+3%
FY22 1
FY21 1
FY20 1
FY19

1) The FY22 and FY21 net sales growth for Deal Advisory excludes the restructuring business. Whereas FY20 net sales growth includes the restructuring business.

Read our year in review 2022

Read our UK Members’ Report and Financial Statements, hosted in our Report hub

Our pay

We're committed to transparency and on a voluntary basis publish the ratio of our UK Chief Executive’s total remuneration to that of our employees at the 25th, 50th and 75th percentile (calculated on a full-time equivalent basis of the active population of salaried colleagues as at 30 September 2022).

UK Chief Executive’s total remuneration / £2.7m FY221
(FY21: £2.1m2)
Pay ratio / 25th percentile 71:1 FY22
(FY21: 59:1)
Pay ratio / 50th percentile 44:1 FY22
(FY21: 38:1)
Pay ratio / 75th percentile 28:1 FY22
(FY21: 23:1)

1) This total remuneration figure reflects the role of Chief Executive being undertaken by Jon Holt for the entire FY22.
2) This total remuneration figure reflects the role of Chief Executive being undertaken by two people in FY21. Jon Holt was elected Chief Executive of KPMG in the UK in April 2021 and received a total remuneration of £1.7m for FY21, which reflects his role as the Head of Audit for part of the year.

Chair remuneration

In February 2021 we separated out the roles of Chief Executive and Chair to bring it in line with industry best practice. We’ve committed to publishing our Chief Executive pay and for transparency, have decided to voluntarily publish the pay of our Chair too. Bina Mehta took on the role of Chair in February 2021 and she received a total remuneration of £1.3m for FY22 (FY21: £0.9m)

We're an accredited Living Wage employer

Fair-pay is a fundamental driver of social mobility – an issue high on our agenda to ensure we are accessing and recruiting from the widest pool of talent. Paying the living wage not only reduces in-work poverty, it also makes business sense - reducing costs to the business, improving competitiveness, market position and profitability.

During its first 20 years, the Living Wage campaign has put back more than £1.53bn into the pockets of over 260,000 low-paid workers1.

In 2006, we became one of the very first businesses to pay the Living Wage to its employees and contracted staff. We went on to become a founding member of the Living Wage Foundation and have continued to provide financial and strategic support ever since. Our Head of Inclusion, Diversity and Equity was appointed Chair of the Living Wage Advisory Council in June 2021. Our long-standing partnership with the Living Wage Foundation has helped to grow this initiative into a movement of over 11,000 accredited Living Wage Employers1.

Collaboration is key in driving change, and that's why we're supporting our suppliers and our clients to implement the Living Wage across their businesses too.

1) Living Wage Foundation | For the real cost of living