The Lawyer Global Litigation Top 50 report is the only ranking of international law firms by litigation and arbitration revenue and is essential reading for anyone seeking to benchmark their litigation and dispute resolution practices...
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South West firm Osborne Clarke has posted a rise of 14 per cent in half year revenues.
At the half way point the firm has generated turnover of £36.5m, up from £32m on the same period last year.
Osborne Clarke managing partner, Simon Beswick, commented in a statement: "In common with many firms in the upper mid market, the sheer strength of the second half of last financial year gives us a challenging target to exceed between now and the year end.”
The increase is well above the firm’s budgeted growth for the year which is between 6 and 10 per cent. If this growth continues it would give Osborne Clarke a year end fee income of £76m.
Last year Osborne Clarke recorded an impressive 27 per cent profit increase of £360,000 following a war on costs.
The firm embarked on a period of tight financial management, which saw radical cuts to the firm’s cost base including a wave of staff and lawyer redundancies, property savings and improved working capital management.
As exclusively revealed by The Lawyer (30 March 2005), the firm was £8.8m in debt at the end of the 2002-2003 financial year.