CMS turnover increases to £679.3m

CMS has posted revenues of £679.3m for the 12 months to 31 December, representing a 5.1 per cent rise on 2010/11 when the firm reported turnover of £646.5m.

According to The Lawyer UK200 net profit stood at £233.42m for 2010/11 and CMS said it had increased by 4.5 per cent over the last 12 months, putting net profit at approximately £244m.

Executive chairman Cornelius Brandi said in a statement: “In 2012, we advised clients on a large number of complex matters across a wide range of jurisdictions. These included working with Telefónica Deutschland on the largest flotation in Germany and with Société Générale on their €50bn European Medium Term Note programme”.

CMS recorded its highest client activity for the year in energy, lifesciences, TMT and the financial services sectors, which was reflected in the opneing of offices in Dubai and Barcelona, along with the expansion of the Beijing practice into the life sciences sector.

The firm revealed plans to open an office in Barcelona in October 2012 following the hire of Ernst & Young partner José María Rojí (17 October 2012) and opened its Dubai office in September 2012 to capitalise on the growing energy market in the region (17 September 2013). The partnership grew by 31 in 2012, including two lateral hires, taking the total number of partners to 768.