Speechlys follows merger with 30 per cent hike in financials

Speechly Bircham has posted a 29 per cent increase in both turnover and average profit per equity partner (PEP) for the 2009-10 financial year.

The firm’s total revenue grew from £45.4m to £58.4m while PEP was up from £331,000 to £428,000.

Speechly’s managing partner Michael Lingens said the results were “particularly pleasing” in the context of the current economic conditions.

“Despite the decline in the property and corporate markets, we continued to benefit from our broad practice, with activity in private client and other advisory areas particularly strong,” added Lingens. “Happily, transactional work has also picked up in the last few months and activity levels are high across the board as we start the new financial year.”

Speechlys turnover growth in particular reflects its June 2009 merger with London firm Campbell Hooper.

Lingens, who was re-elected for his fifth term as managing partner on 1 May, added that the combined firm had exceeded the budget it set at the time of the merger and achieved an underlying growth in revenue of 8 per cent.