Revenues rise 3% at Eversheds
LAW firm Eversheds has reported record profits.
The international firm, which has an office in Manchester, said that net profit has increased by 6% year on year. Revenues for the financial year 2012-13 increased to £376m, a 3% increase on last year.
Eversheds’ Manchester office senior partner Michael Clavell-Bate said: “We anticipated difficult trading conditions at the start of the year and planned accordingly, which enabled the firm once again to deliver a strong set of financial results.
“Maintaining revenue growth was very pleasing, particularly as our revenue line was flat at the half year.
“This, alongside the very favourable cash position, emphasises the financial robustness of the firm. The continued focus of the whole team on managing the margins, ensured that the growth cascaded through to the bottom line, creating an excellent platform for 2013/14.”
A number of areas experienced growth over the last 12 months. Litigation teams saw strong growth whilst financial institutions and energy and natural resources grew by 20% and 14% respectively.
The firm has also kept a tight rein on costs over the last 12 months and in May it confirmed it was cutting staff levels by 116 across its practice. This restructuring affected 16 jobs at the Manchester office.
