Watson Farley & Williams has reported a 14 per cent increase in revenue for the first six months of this year, from £59.5m to £67.6m. At the same point last year, WFW recorded just 5 per cent growth in turnover. Co-managing partner Chris Lowe described the firm’s latest result as ‘very encouraging’ given the current political and economic climate. He commented: ‘The past six months have seen significant market volatility due to things such as the Brexit vote, but this is something WFW is well placed to manage.’
Currency impact
In particular, the strong result has been credited to the performance of WFW offices outside of the United Kingdom. The firm has invested significantly in expanding its international presence over the last year, including key partner hires in New York and Dubai and a new alliance in Vietnam. Mr Lowe added: ‘There’s an FX-element to these figures, as 60 per cent of our turnover is generated out of the UK in strong currency jurisdictions.’ WFW has confirmed that it is eyeing China is its next expansion target.
Sources: Legal Business; The Lawyer
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