UK: Clyde & Co Reports Strong Financial Results For 2014/15
Last Updated: 26 June 2015

International law firm Clyde & Co has today announced further growth with an eight per cent increase in revenue to £395 million, with average profit per equity partner (PEP) up by 10 per cent to £660,000.

The pattern of growth in the firm reflects the firm's sector focus and the balance of its practices across both developed and emerging markets.

In the developed markets of the UK, Europe and North America we saw steady growth overall but with particularly strong performances in the UK from our insurance, international arbitration, sector dispute resolution teams, real estate, projects & construction practice and our oil & gas transactional practice. Our professional lines and expanding Manchester offering drove our expansion in insurance with double digit growth. Our real estate, projects & construction practice took advantage of the improvement in the UK market and London partners' involvement in resolving international disputes. In North America we saw growth in a number of our core insurance coverage teams and continued growth in our market leading professional lines and cyber practices. In Europe, our recently opened office in Madrid grew strongly.

To complement the strong arbitration practices of our sector teams we have formed a specialist International Arbitration Group in London and this practice grew by 40 per cent last year. Our network and immersion in so many aspects of international trade continue to attract clients to this practice and we have three new lateral partner hires to our International Arbitration group over the year in Singapore, Beijing and New York.

In Asia Pacific we have increased revenue by over 30 per cent for the second successive year, driven by exceptional performances in our insurance and dispute resolution practices in Australia, as well as the firm's Singapore, Hong Kong and China practices. The growth reflects the firm's investment in this fast-moving region, where much of the most dynamic activity is occurring in our core sectors.

Our MENA practice is the largest international law firm in the region with long-standing roots and wide coverage. We have made 11 internal promotions in the region in the last three years and achieved both 15 per cent growth and increased profits. During the year we established a directly owned operation in Saudi Arabia and saw a strong performance in Qatar which has seen a good deal of regional investment. Our practices in Africa performed well with our Tanzania practice benefitting from the expanding oil & gas industry while our South African practice has performed on plan during its first 10 months with the firm and is positioned well for significant growth in the coming year.

Senior partner James Burns comments:

"We have had another strong year of continued growth across our global network and I feel the results demonstrate the strength of our core sector and regional approach. Clyde & Co is characterized by a consistent long-term focus with continued investment in the expansion of our global network and capabilities helping us better serve and support our international client base.

"We would not have achieved these excellent results without the hard work and dedication of everyone at Clyde & Co and I'd like to take this opportunity to thank everybody for their continued commitment to the firm."

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