Friday 01 June 2012 by John Hyde
National firm Osborne Clarke has reported a new high in revenues for the last financial year of £97.7m.
The figure was an increase of 8% on the previous year and reflected the firm's best financial performance in its history. Net profit increased by 6% during 2011/12. Profit per equity partner was also up, by 1%, to £406,000 during a year when 10 lawyers were made elected partners at the firm's Bristol, London (pictured) and Cologne offices.
Next month, the firm hopes to conclude a merger with Italian firm SLA and Osborne Clarke Spain to create a 145-partner practice with a presence across Europe. Various partnership votes are needed before the mergers become effective.
A spokesman for Osborne Clarke said: 'Achieving 8% revenue growth in a challenging economic environment is a good result. In the UK it reflects a strong performance by our corporate transaction teams and firm-wide.'
He added: 'It reflects the successes we are seeing in Digital Business, Energy and Financial Services in particular and good growth in Germany.' The firm's figures continue a run of positive results for the firms which have so far confirmed their results for 2011/12.
Earlier this week, top-50 international firm Watson, Farley & Williams announced end-of-year revenue rose by 12% on the previous year. Firm-wide revenue was £99.8m compared with £88.8m in 2010/11. Profit per equity partner was expected to remain around £455,000.
Taylor Wessing and Ashurst both enjoyed single-figure profit increases, while media and telecoms firm Olswang grew revenues by 17% to £108.1m.