Penningtons reports bumper turnover growth after mergers

South-East firm Penningtons has announced a revenue increase of 35 per cent for the 2011-12 financial year on the back of its double merger with Dawsons and Wedlake Saint.

Turnover at the firm rose from £24m in the 2010-11 financial year to £32.3m last year. Penningtons merged with both St Alban’s firm Wedlake Saint and Lincoln’s Inn outfit Dawsons at the start of the year (3 May 2011).

The firm also announced the promotion of three new partners, bringing the total number of internal promotions since April 2006 to 11 (15 March 2012). The promotions and hires are set against a steady stream of departures in the past few years.

The new partners, co-head of Penningtons’ City-based India group, Saionton Basu, London-based immigration lawyer Pat Saini and Guilford-based commercial property lawyer Mike Busby, bring the total number of partners to 71.

Penningtons opened two new offices in Cambridge and Guildford in March this year, poaching a number of corporate lawyers for its Cambridge team from Charles Russell.

In a statement the firm’s chief executive David Raine said: “This is an excellent performance which reflects our underlying organic growth as well as the success of last year’s mergers with Dawsons and Wedlake Saint.”