Eversheds reports 10 per cent growth

Eversheds has seen half year turnover grow in line with its three-year strategy with a 10 per cent increase to £196m from £176.4m for the same period last year.

The firm said it is ahead of target in delivering its strategic growth plans and profit targets despite significant investment in new offices in Leeds and London and continued European expansion.

The interim results were boosted by continued growth across the firm’s international offices, as well as in London, in line with the firm’s strategy.

David Gray, Eversheds’ Chief Executive, said the firm’s strategy of international expansion and steady UK growth is clearly working for Eversheds and its clients.

“As you can expect from Eversheds, we continue to achieve steady, profitable growth across all practice groups and sectors of the firm,” said Gray. “These results are in line with our three-year plan to deliver strategic growth across our business.”

Eversheds investments so far this year have included the firm’s staff in Leeds moving to new offices in Bridgewater Place and the setting up of a new global headquarters in the City, which is on budget and will be completed by Spring 2008.

The firm has also expanded its international network to 34 offices following the association with Balcar Polansky Eversheds in Prague and Bratislava (The Lawyer, 1 October)

Gray added: “The second half of the year looks promising as we continue to build on our high profile panel wins with Tyco, Severn Trent, Samsung and Transport for London.”

Last year the firm posted year end results of £356 million in annual revenue, with profit growth up 14 per cent to £75.3m and a record PEP of £502,000, up 20 per cent.