Eversheds has announced its results for the 2013–14 financial year, confirming a two per cent year-on-year increase in top-line revenue.
Substantial investments were made by the firm during the course of the year, with more than £30m (eight per cent of revenue) committed to investments in key areas, including expanding its international operations in Asia, the Middle East and Africa and in IT infrastructure projects to support service delivery across its global operations.
Notwithstanding the heavy investment, the firm has once again reported an uplift in profits with net profit increasing by one per cent year on year to £86.2m and at the same time improving its strong cash position. The firm was also able to increase the amount paid to staff by way of bonuses, with a 22 per cent uplift on bonuses paid year on year. PEP increased by 14 per cent to £729k.
A number of areas experienced growth over the last 12 months, with particularly strong performances in the financial institutions and transport sectors, up 15 per cent and 22 per cent year on year respectively. Revenue in the London office also increased by seven per cent, with revenue in the Middle East and Asia increasing by 32 per cent and nine per cent respectively.