Fieldfisher, which recently released new a strategy homing on in three sectors, has posted a 7% increase in firmwide revenues for 2015/16, up to £121.5m from £113.3m. The result comes after the firm posted an 8% rise in revenue at the half-year point in November.
The firm also reported an increased in profit per equity partner (PEP) of 9% to £550k this year, up from £506k the year before. This is the firm’s highest PEP figure since 2009/10, although still some way off the £722,000 achieved in 2007/08.
On a five-year track, revenues for the firm have grown 29% from £94m. As a result of the positive figures the firm has dished out a £1,000 bonus to all staff.
In a statement the firm said its dispute resolution practice had a particularly successful year, alongside financial markets and products, technology outsourcing/privacy and its public and regulatory practice.
Managing partner Michael Chissick said: ‘As a firm we have big plans for growth and these results put us on a strong footing to achieve them. We have continued, and will continue, to invest in the firm’s growth and development.’
As part of its new strategy, the firm has picked three sectors to ‘turbocharge’ as it rolls out its latest three-year business plan, dubbed ‘Our Future Refocused’.
The firm is placing an emphasis on technology, energy and financial services as its three ‘accelerated’ focuses.
Combined, these areas account for almost £50m of the firm’s revenues. Technology is the biggest contributor, bringing in about £20m, while financial services brings £15m while energy brings in slightly less at about £12m.
Among the other firms to report first this season include Osborne Clarke, which posted a 23% rise in global revenues to €236.3m, while TLT in May posted a 15% turnover lift to £71.6m. Forsters also produced a bumper result with an 11% bump in revenue to £46.2m.
victoria.young@legalease.co.uk
