Insider Business Revenue of €53.4 million for KPMG Cyprus

Revenue of €53.4 million for KPMG Cyprus

KPMG Cyprus results covering the financial year to September 2018 are on the positive side with total revenues rising to about €53.4 million, recording an increase of 8% compared to the same period the year before.

A rapid increase in the demand of advisory services was recorded amounting to €9.8 million and marking an increase of 28.1% on an annual basis. A significant revenue increase of 14.9% was recorded in the tax services, amounting to €10.1 million. At the same time, the main revenue source of the firm – audit services – amounted to €33.4 million, marking a 1.5% increase in revenue.

The results of the firm reflect what Christos Vasiliou who is the Managing Director of KPMG in Cyprus told INSIDER magazine in a recent interview.

He had said that a sharp increase in the provision of advisory and tax services was recorded over recent years and this trend is expected to continue.

The company’s total contributions and taxes to the state amounted to €17.2 million in 2018 compared to €15.6 million the year before.

At the same time, the administrative and managerial structure of KPMG Cyprus changed early in 2019 with Vasiliou and Michalis Antoniades assuming the positions of Managing Director and Chairman, respectively.

Vasiliou, who welcomed the 2018 results, sent the message that these were achieved within a highly challenging environment because of  increased supervision, the enforcement of the law on rotating auditors at specific companies and the need for more rigorous risk management procedures.

KPMG Cyprus operates out of six offices across the island and currently employs 925 personnel. The company has 45 partners today.

Read more:

Top Stories

No articulated lorries on highways, main roads on Sundays

    Police have prohibited articulated lorries from the highways and main roads tomorrow and on July 19 and 26 in an attempt to ease Sunday...

19 year old woman critical after road collision

    A 19 year old woman is in critical condition in hospital after a collision between two cars on the Limassol-Platres road a little before...

A scorcher today, temperatures to hit 41 C inland

    Saturday will be a scorcher with temperatures hitting 41 C inland and extreme high temperature in force  from 11 am until 5 pm. There will...

‘A free man’: Trump commutes longtime adviser Roger Stone’s prison sentence

  President Donald Trump commuted the sentence of his longtime friend and adviser Roger Stone on Friday, sparing him from prison after he was convicted...

U.S. sets record for new COVID cases third day in a row at over 69,000

  New cases of COVID-19 rose by over 69,000 across the United States on Friday, according to a Reuters tally, setting a record for the...



Moungra is a traditional Cypriot mezze which consists in cauliflower pickled in fermented bread dough and typically served as an appetizer or meze. It...

Cheesy Eggplant Rolls

Ingredients 4 Eggplants 2 tbsp olive oil 1 chopped onion, 2 grated carrots 1 garlic clove (sliced) ¾ of the cup finely chopped canned tomato, ½ ts sugar 1 ts oregano 2 tbsp...

Black eyed peas with chard (Louvia me laxana)

Ingredients: 2 cups black eyed peas small lemon (juice) + 1 tsp lemon zest 1 bunch Cypriot chards olive oil & lemon for serving salt & pepper Method: Step 1 Put the...

How to make triandafillo ice cream, by UK Cypriot chef Loulla Astin

  Just in time for the scorching heat, UK Cypriot chef Loulla Astin has shared her recipe for refreshing triantafillo ice cream -- or as...