KPMG retains top spot for City audits
KPMG remains king of the Big Six auditors, increasing its lead over rivals as the firm with the most stock market clients.
According to statistics revealed in the August 1996 edition of The Hambro Company Guide, published last week by Hemmington Scott, KPMG now claims 399 UK fully listed and Unlisted Securities Market clients. The firm strengthened its position by picking up a number of new clients, including the Harvey Nichols flotation. The battle for second and third places is still being waged between Coopers & Lybrand, with 307.5 clients, and Ernst & Young with 272.
The picture changes dramatically when the firms’ clients are compared in terms of growth. Topping the growth rankings comes Grant Thornton, whose clients achieved an impressive 19% average increase in pre-tax profit.
Robson Rhodes leapt from eighth to second place, with clients scoring 15.3% average growth. Also moving up the rankings were Binder Hamlyn, from tenth to fifth, and Arthur Andersen, from ninth to sixth.
Good news also for Coopers which extended its lead as the auditor whose clients made the most pre-tax profit, a total of z25,831.5m, according to the August Hambro’s. KPMG clients earned z17,679m, ahead of Price Waterhouse whose clients recorded z15,984.1m in profits.
The top ten auditors now account for a net total of 1,724 UK stockmarket client companies, 75% of the total 2,300, with an aggregate pre-tax profit of z83.56bn.
