clydes-botolph-web-Article-201607040704Clyde & 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.