Nabarro’s profit per equity partner (PEP) has risen by 30% over the past financial year, figures released by the firm today (13 June) reveal.
Preliminary figures show the firm’s net profits increased by 11% from 2012-13, while PEP has risen from £332,000 to £430,000 during the same period.
The firm’s annual turnover is up by 2.6% from £113.4m in 2011/12 to £116.3m in 2012/13.
According to the top 30 UK firm, its City corporate, real estate and dispute resolution practices all contributed positively to the growth, while its Singapore office continued to capitalise on an increase in work in the region.
The firm has attained notable M&A work in the last year, including acting for Sportingbet on its £530m acquisition by William Hill and GVC in October 2012. It also advised new client Google on an acquisition for an estimated £1bn development of its new London headquarters.
Graham Stedman, senior partner at Nabarro said: ‘These results demonstrate further positive progress at Nabarro. The combination of continued revenue increases, enhanced profit and a significant rise in PEP is testament to the hard work of teams right across the firm.’
‘We now have a strong financial platform from which to build having also settled our property requirements. With a focus on profitability and an investment in the partnership, in technology and in the work we generate internationally, I expect to see the performance and confidence of the firm continue to grow.’
Nabarro is one of several City firms to release its financial results this week. Reynolds Porter Chamberlain published its figures on 11 June posting a double digit increase in revenue turnover, which was up by 20% to 82.1m this year compared to £68m the year before. The same day, top 20 firm Clyde & Co revealed a turnover increase of 17% as it continues to reap the rewards of its merger with Barlow Lyde & Gilbert in 2011.
sarah.downey@legalease.co.uk
