Camerons posts 1 per cent turnover rise for 2011-12 financial year
CMS Cameron McKenna has revealed a 1 per cent revenue increase for the 2011-12 financial year, posting an increase from last year’s figure of £225m to £227.6m.
Across the entire CMS network, meanwhile, turnover was up 3.9 per cent in euro terms, from €767.9 (£658.7m) last year to €797.5m (£692.1m). According to a spokesperson for the CMS network, distributable profits are up 8.2 per cent on 2010-11, putting the growth down to an extended market presence with the addition of Lisbon, Luxembourg and Tirana.
Camerons did not release a firm-specific profit figure. Nobody at the firm was available to talk about the figures, although a statement released by the firm said that all practice areas made strong contributions over the year, in particular energy, life sciences, retail, financial services and TMT.
Cornelius Brandi, executive chairman of the CMS network, said the “consolidating results” had been delivered “in the face of extremely challenging market conditions”.
Brandi said: “During 2011, we made over 130 multijurisdictional pitches, each involving an average of six countries. Our win rate of over 60 per cent shows clearly how well positioned we are to capitalise on client need for coordinated cross-border advice.”
The CMS network has 52 offices worldwide including Rio de Janeiro, Moscow, Beijing, Shanghai, Casablanca and Algeria.
Camerons has 13 offices, in locations including Aberdeen, Budapest, Prague and Warsaw, and two bases in London.
Readers' comments (5)
Anonymous | 7-Jun-2012 5:54 am
Weak reporting. The combined figures have no meaning and cannot be verified at Companies House. Hope you will check the real ones when filed.
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Whoops | 7-Jun-2012 10:06 am
Oh dear. After the spate of double digit turnover increases other firms are releasing, this is pitiful. Although, after the way they've treated their support staff the last couple of years, you'd have to have a heart of stone not to laugh at this. The Integreon deal not going as well as it could have perhaps? I wonder if anyone is regretting it now? Let's hope so.
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Anonymous | 8-Jun-2012 2:37 pm
LMAO.....this made my day. After all the pain, sleeze, and behind the scenes questionable deals this is all they manage. No sympathy. they will continue getting what they deserve....
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mystic meg | 11-Jun-2012 12:17 pm
Yes, it looks like a disappointing result for Camerons. Although the CMS network as a whole looks much more impressive. Not sure how things are going over there, what with their pulling out of the Principal Place lease. Perhaps a merger in the works? Or maybe just prudence in uncertain market conditions.
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Claire voyant | 11-Jun-2012 9:03 pm
Shouldn't you be telling us rather than asking , Mystic Meg? Or did you know I was going to ask that?
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