New York (Jan. 21, 2004) -- Buoyed by growth in its Asia-Pacific operations, global firm network KPMG International reported a 13.4 percent rise in member-firm-dollar revenue, to $12.6 billion for the fiscal year ended Sept. 30, or 5.4 percent in local currency.

Within its Asia-Pacific network, the company's revenue rose more than 25 percent, to $1.24 billion, largely as a result of acquiring former Arthur Andersen firms in Japan and Thailand.

"The addition of Asahi & Co. furthers our strategy to continue to strengthen our capabilities in Asia Pacific," Mike Rake, chairman of KPMG International, said in a statement.

KPMG International said that revenue from its audit operations grew more than 20 percent, to $5.68 billion, a boost of roughly 12 percent in local currency terms. Meanwhile, tax services rose nearly 9 percent to $3.31 billion, or 1.6 percent in local currencies, while advisory services rose 7.1 percent to $3.17 billion, a drop of just over 1 percent in local currencies.

-- WebCPA staff

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