SNR Denton has posted positive results in the US side of the business on all the key metrics for the 2011 financial year.
Gross revenue rose 4.4 per cent to $474.5m while average profit per equity partner was up by 6.7 per cent to $880,000.
Headcount also rose in the US by 2.5 per cent to 615 lawyers while revenue per lawyer showed a 1.3 per cent increase to $770,000. The firm’s net profit was up by 6 per cent to $123m.
SNR Denton’s US side operates on a calendar year basis while it’s UK-headquartered practice – the legacy Denton Wilde Sapte – will report after the end of the UK financial year in April.
SNR Denton’s global CEO Elliott Portnoy however focused on the success of the 15-month old combination as the primary reason for the US division’s positive financial results.
“We’re 15 months in and we’re generating tens of millions of dollars from new and existing clients that but for the combination we wouldn’t have been able to represent,” said Portnoy. “That could be US energy clients with requirements in the Middle East, or Chinese clients with needs in Africa, or London clients doing deals in Silicon Valley. The metrics also represent the growth in talent we’ve seen over the past 15 months. We’ve added almost 90 laterals since the combination.”
Portnoy also pointed to SNR Denton’s new offices in Hong Kong and Beijing as evidence of its growing influence internationally.