Law firm’s turnover hits £382m
LAW firm Pinsent Masons has seen global turnover increase to £382.3m – a 5.5% increase on the previous year – and cumulative revenue growth of almost a fifth over the past three years.
The results for the 2015/16 financial year show that profit per equity partner increased to to £550,000.
The Advanced Manufacturing & Technology, Financial Services and Infrastructure sectors all contributed around 20% to global turnover, while the Energy and Real Estate sectors contributed around 12% each.
The Manchester team saw two partner promotions; Phillip Birchall in the property team and Steven Porter in the litigation team, as well as and six senior associate promotions last month.
Standout mandates for the Manchester office over the year include acting for ECI Partners and the management team on the sale of the Fourth Hospitality Group.
Helen Ridge, head of Manchester office, said: “We have experienced rapid growth in the last 12 months across our teams in the Manchester office and with our new hires and promotions, we are well positioned to support our clients during the uncertain period ahead.”
John Cleland, managing partner at Pinsent Masons, said: “It is particularly pleasing that we have managed to sustain growth and profitability while making unprecedented levels of investment into our business. Our partners recognise that if we are serious about becoming international market leaders we cannot stop investing.
“We have a good deal of momentum in the business and our focus now is on supporting clients based in the UK and elsewhere through what is likely to be a volatile and unpredictable trading period.
“Some time ago we assembled a multidisciplinary Brexit Advisory Team which is already engaged with clients globally to address the challenges and opportunities linked to Brexit. The year ahead is hard to predict, however our strategic focus on industry sectors, international platform and broad practice mix means our business is exceptionally well-placed to help clients respond to what lies ahead.”
