International law firm Pinsent Masons has announced a healthy set of financial results for the 2013-14 financial year, with turnover and profit per equity partner both up.
The firm’s preliminary unaudited financial results saw profit per equity partner (PEP) increased by 4.5 per cent, up to £405,000 from £387,000 last year.
Meanwhile turnover saw a 4.6 per cent rise to £323 million compared to £309 million in 2012-13.
Managing partner at Pinsent Masons, David Ryan, attributed growth in part to strong performances in banking and finance, real estate and projects, most notably in the energy sector.
The firm’s international network performed well with Germany and the Middle East making a significant contribution.
Mr Ryan, said: “We’re pleased to have seen another year of good revenue growth.
“The extended period of investment we’ve made in the firm through merger, office openings and continued lateral hiring for our long-term benefit has put the firm in a strong position to capitalise on opportunity in the marketplace and our focus now is on realising the strongest returns and boosting profitability with a more modest level of investment continuing alongside.
“Our new finance director Charlotte Beckett joins in the autumn and one of her early priorities will be to help us to ensure we are well positioned to drive up profitability following such a period of sustained growth.”
Pinsent Masons employs more than 2,500, including more than 1,500 lawyers.
The Birmingham Post has launched a free app for iPad and iPhone. Download it here.