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Pinsents reports five per cent turnover growth

Asia Pacific was ‘a real bright spot’, says David Ryan 

17 June 2013

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By Manju Manglani, Editor (@ManjuManglani)

Pinsent Masons has reported a provisional turnover of £309m in the financial year to 30 April 2013, up five per cent on the previous year.

The figure, based on unaudited financial results, strips out the effect of the international law firm’s 1 May 2012 merger with national law firm McGrigors.

The legacy firms had a notional combined turnover of £294m in 2011/12. Turnover for Pinsent Masons alone last year was £221m, so revenues effectively grew by 40 per cent as a result of the merger.

The increase in turnover comes after a period of growth for the international firm, which opened offices in Munich and Paris last year. Pinsents has also doubled the size of its Shanghai team, launched a TMT practice in Singapore and opened a new office in Istanbul, giving it more offices overseas than in the UK.

"The firm has changed dramatically over the past 12 months and we have made significant investment into the business,” said managing partner David Ryan.

“We continue to see strong demand in global sectors such as energy, infrastructure and advanced manufacturing and technology, particularly in litigation, tax, competition and regulatory. The firm has moved forwards in financial services, with strong growth in insurance and restructuring."

"The performance of our international network has also been encouraging with significant contributions from our new offices in Paris and Munich. Asia Pacific was a real bright spot, with 30 per cent turnover growth for a second consecutive year."

Pinsents has also been investing in new client services. Earlier this year, it launched freelance lawyer service ‘Vario’. This month, it launched ‘Cerico’, a joint venture with IT consultancy Campbell Nash to help large businesses meet global compliance requirements.

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