KPMG, one of the big four accounting firms, said yesterday its annual global revenue rose 16.4 per cent and it was confident the business had a strong year ahead.

Global revenue rose to £8.85 billion for the year to September 30, while the increase in local currency terms was 12.8 per cent, the provider of audit, tax and advisory services said in a statement.

The figures showed an acceleration in growth rates from the previous financial year, when revenue grew 14.7 per cent in dollar terms and 7.3 per cent in local currency terms.

"KPMG has had an exceptional year, reflecting increased business activity and gains in market share, in a difficult regulatory environment," KPMG Chairman Mike Rake said.

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