Norton Rose turnover rockets 27 per cent

<a class=Norton Rose turnover rockets 27 per cent” />Norton Rose has trumped its City rivals by announcing a 27 per cent increase in turnover.

The firm brought in £297m during the last financial year taking its turnover above Simmons & Simmons, which last week announced firmwide revenues of £290m.

CEO Peter Martyr said: “This is not a flash in the pan. We have been building it up over the past few years.”

In the last few weeks Ashurst, Herbert Smith, Pinsent Masons and Simmons & Simmons have all announced results, posting turnover rises of between 16 and 20 per cent.

Martyr said he was pleased with the firm’s performance, adding: “We set ourselves a target two years ago to grow by 30 per cent in two years but we have grown by 40 per cent in that time.”

The corporate practice has performed particularly well, specifically in the AIM marketplace, topping the rankings for the number of clients and market capitalisation.

During the last financial year, Norton Rose has expanded its presence in the Middle East and opened a new office in Tokyo, as well as making 19 lateral hires.

Last year the firm recorded turnover growth of 15 per cent, rising to £233m, and broke £500,000 PEP for the first time.

The firm has not yet calculated profits for the year but Martyr predicted a “good increase”.