KPMG Australia has reported revenue total of A$1.1bn for the year ended 30 June 2013, down 0.6% from last year's result.
Considering a market environment where Australian listed company profits fell by 4.4%, Australia's third largest accounting firm said it believed that despite the slight decrease in revenues, "they have achieved robust results in the past financial year".
KPMG Australia saw the biggest challenges in its tax and transactions and restructuring services, down 4% and 3% respectively.
Regardless of the slight drop advisory services remained the firm's largest service line, amounting to 46.5% of the firm's overall revenues.
Audit remained flat compared to last year and contributed to 35% of the revenues. Tax services amount to 18.5% of the firm's revenues.
Geographically, Western Australia achieved the highest revenue growth and saw the largest increase of new partners accounting for 20% of the national intake. Overall KPMG Australia hired staff from over 30 countries and 40 business lines to reach a total staff, including partners, of 5103 people.
KPMG Australia went through leadership changes last year as Gary Wingrove took over from Geoff Wilson as chief executive officer and John Somerville, Ian Hancock and Sally Freeman were respectively appointed as head of advisory, management consulting and risk consulting.
Wingrove said: "We are reorienting our firm for a return to growth through a focus on entrepreneurship and quality. We are striving to further increase our agility and innovation to meet the changing needs and behaviours of our clients, and pursue our growth ambitions."
Race to the top
Last year KPMG was ranked as Australia's third largest network with 7% growth, however the difference between second ranked EY and fourth ranked Deloitte was very low, A$5m and $18m respectively.
This year's dip in growth might indicate another year of ranking changes among the country's Big Four.