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Firm grows revenue by 13.2% while PEP edges up slightly to new high of £665k
July 04, 2016 at 05:00 AM
1 minute read
Clyde & Co increased its global revenue to £447.3m in the financial year ending 30 April 2016, up 13.2% from the year before.
Profit per equity partner (PEP) stayed broadly flat, rising less than 1% from £660,000 to a new high of £665,000.
In 2014-15, the firm announced an 8% increase in revenue to £395m and a 10% increase in PEP to £660,000.
The firm expanded its geographic footprint during the course of the 2015-16 financial year, launching in Scotland through a merger with local firm Simpson & Marwick and bringing on board a 30-lawyer team in Australia from Lee & Lyons. The firm has subsequently also opened an office in Miami.
Asia-Pacific accounted for 11% of the firm’s global revenue in the last year, with regional revenue climbing 13.5%.
Chief executive officer Peter Hasson said: “The twin themes of last year were continued strong and profitable revenue growth against a background of continued global expansion and significant investments, which will enable us to become a more agile organisation.”
Hasson went on to say the firm’s strength lay in its sector focus and geographic presence. Since 2011, Clydes has added 25 new offices globally and by 1 June this year had a total partnership of 382 across 45 offices worldwide.
It has a focus on five core sectors: insurance, energy, trade and commodities, infrastructure and transport.
Pinsent Masons also announced its 2015-16 results today, growing revenue by 5.5% to £382.3m and PEP 2.2% to £550,000.
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