It’s been another year of solid organic growth for stalwart Burges Salmon, with revenue, profit and profit per lawyer (PPL) all up 4% at the end of last financial year.
The UK top 50 firm posted its highest ever revenue figure of £73.7m, up from £71m at the end of financial year 2011/12, with net income up to £23.5m from £22.6m and PPL up to £76,000 from £73,000. Profits per equity partner are flat, at £420,000 this year. This follows a 7% increase in turnover during the previous financial year.
Peter Morris, managing partner at the Bristol-based firm, which counts Nationwide, the Co-operative Group and the Crown Estate as clients, said: ‘Looking at the current year, the firm is well positioned to take advantage of opportunities in 2013/14, although we recognise that the UK legal market is likely to be at least as challenging as it was in 2012/13.
‘We were particularly pleased with the increase in the level of corporate transactional activity and solid performances from many other areas of the firm.’
In January this year, the firm was the major winner on the government’s new 48-strong legal roster, securing selection to seven of the eight sub-panels.
Notable recent work for the firm have included a role advising on the £2bn dairy co-op merger between Milk Link and Denmark’s Arla Foods and representing Leeds Football club in its successful Court of Appeal challenge over policing costs charged by West Yorkshire police.
The firm’s solid organic growth contrasts with the 14% revenue increase of local rival Osborne Clarke, which came as the result of recent European expansion.
francesca.fanshawe@legalease.co.uk
