Clydes breaches £200m turnover barrier

Clyde & Co has broken through the £200m turnover barrier, posting a 10 per cent rise in revenue for 2010-11, from £192m to £212m.

The firm’s domestic office generated 59 per cent of the global revenue, the equivalent of £125m, up 11 per cent from £113m last year.

The firm said growth had been boosted by an increase in litigation and transactional work.

The firm’s international network contributed £87m to the firmwide revenue, up from £80.64m last year.

Chief executive Peter Hasson said Clydes’ US offices, of which it has three, performed particularly well, increasing revenue by 37 per cent.

“It’s been a year of heavy internal investment,” Hasson said. “We’re moving our London headquarters and have been adding in more people in the past year.”

The firm has appointed 23 new partners during the past year.