Results released this morning by Pinsent Masons show a 5.5 per cent increase in revenue to £382m over the last financial year. The growth rate is slightly slower than in 2014/15, when turnover lifted 12 per cent from £323m to £362.2m. Average profit per equity partner (PEP) was also up a modest 2.2 per cent this past year from £538,000 to £550,000. Spearheading growth were the firm’s manufacturing, technology, financial services and infrastructure practice groups, which all generated around 20 per cent (£76.5m) of the firm’s total turnover last year, while energy and real estate contributed around 12 per cent (£45.9m) each.
Going for growth
In the last year, the firm has promoted 18 to partner, launched offices in Sydney, Melbourne and Dusseldorf and announced a new oil and gas practice in Singapore. ‘It is particularly pleasing to me that we have managed to sustain growth and profitability while making unprecedented levels of investment into our business,’ commented Pinsent Masons managing partner John Cleland of the firm’s full-year results. Senior partner Richard Foley has indicated that the growth agenda will roll ahead into the current financial year, with new offices planned and a continued focus on expansion in Asia: ‘We’re looking at our geographic footprint. We need to continue to invest in where our clients’ businesses need us. That’s not always putting flags in new ground but it might be growing in Singapore,’ he told The Lawyer.
Sources: The Lawyer; Yorkshire Post
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