Nabarro has posted flat revenue for the 2013/14 year-end up 0.3 per cent from £116.3m to £116.7m, while average profit per equity partner (PEP) grew by 10.5 per cent from £430,000 to £475,000.
Net profit has also increased, climbing 8 per cent, from £31.6m to £34.1m. It is the third consecutive year of net profit growth at the firm, although still short of the £55.5m high Nabarro achieved in 2007/08.
At the same point last year PEP was also set to soar by 30 per cent, up to £430,000 from £332,000 (13 June 2013). That followed two years of weaker growth and was still some way off the 2007/08 high of £600,000.
Over the last twelve months the firm has bolstered its nternational presence with the opening of an office in Dubai (21 November 2013). That followed the 2010 launch of a Singapore base (20 September 2010). Both offices focus on construction and engineering, development, dispute resolution and infrastructure.
The Singapore launch in 2010 was a strategic U-turn for the firm but has proved successful. Senior partner Graham Stedman has hinted that the firm could be interested in a Singapore alliance last year (17 January 2014).
Nabarro kickstarted the 2014/15 financial year with the appointment of international head Patricia Godfrey, who has been charged with leading the international expansion of the firm (4 April 2013).
The firm’s real estate offering continues to bring in chunky mandates and has already advised longstanding client Hermes Real Estate on the recent £800m NOMA JV with The Co-op.
The past two years’ results follow several years of tricky growth at the firm. At the 2011/12 year end the firm revealed that it had been cutting partners in response to difficult economic conditions (28 May 2012).