Denton Wilde Sapte has clocked up a 14% annual boost in its fee income, the first fully integrated results the firm has released since the merger which created it in 2000.
Provisional gross fees have climbed to £162.4m from £142.8m last year while average profits per partner have jumped 28% to £330,700, with banking and TMT cited as top performing departments.
Dentons has now set a target budget next year of £184m for the year 2001/2002, with profits per partner projected to reach £370,000.
The results come amid international expansion in Europe and Asia and a substantial management reshuffle over the past year.
Corporate chief Steven Goodman was recently relocated to Asia as head of the firm’s Asia-Pacific practice to build its profile in the region.
At the same time, senior project finance partner Neil Cuthbert was also moved to head of banking and projects for the Middle East.
Denton Wilde Sapte managing partner Virginia Glastonbury said: “We have seen an increasing amount of cross selling between departments since the merger.”
“The banking expertise that came with Wilde Sapte has proved crucial in that respect.”
The firm’s TMT and IP practices have both been restructured since the merger on the back of some new client wins.
The move comes as Dentons completed its pay round for assistant solicitors, with newly qualified solicitors to receive £48,000. The rate compares to a £50,000 benchmark that has been set by the majority of top tier City firms this year.
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