Ashurst has posted a 6 per cent rise in revenue for the 2011-12 financial year, with the figure coming in at £322m.
Last year the firm posted turnover of £303m after a 3.5 per cent rise (7 July 2011).
This year’s figure is a like-for-like comparison with the sum the firm posted last year and does not include any fees generated by the firm’s revenue-sharing tie-up with Australia’s Blake Dawson, which went live in March (26 September 2011).
That said, managing partner James Collis said the firm had begun to benefit from cross-referral work leading from the Blakes deal, particularly in corporate, banking, and energy, transport and infrastructure.
Collis said that in terms of geographies the firm had a good year in Asia and in Italy, where the firm launched a Rome base in March 2011 after hiring lawyers from Dewey & LeBoeuf and NCTM (4 March 2011). In March this year it added a corporate team in Milan (12 April 2012).
Collis, who transferred to London from Paris earlier this year after succeeding Simon Bromwich as managing partner (21 March 2012), said he felt the firm’s results were strong.
“The general feeling is that it’s an encouraging result against the backdrop of a pretty challenging economic situation,” he said.
“This is a pretty solid platform. No one’s complacent, but we feel we’ve got something to build on.”
The firm is still in the process of finalising its profit figures for the year, with the expectation that partners’ profit shares will be announced in July.