Bonelli turnover up by 30 per cent

Leading Italian firm Bonelli Erede Pappalardo is expecting a revenue boost of 30 per cent compared with last year, reaching a total turnover of around €130m (£88.67m).

The revenue figures will be finalised by the end of May, but provisional figures point to an extra €30m (£20.46m) at least.

Banking partner Andrea Novarese said strong performances from the finance department led the growth spurt.

“The increase in revenue is very much coming out of the corporate finance practice,” said Novarese. “The banking group has had the highest percentage increase within the firm and we expect to keep growing.”

Over the past year Bonelli has secured lead roles on Banca Intesa’s €6bn (£4.09bn) disposal of key assets to shareholder Crédit Agricole; Autostrade’s proposed €25bn (£17.05bn) tie-up with Spain’s Abertis Infraestructuras; and Banca Generali’s €1.5bn (£1.02bn) float on the country’s bourse, the Borsa Italiana.

The firm’s senior management board will decide at the end of May how much of the extra cash will go to the 62 partners and how much will be invested back into the firm.

In London Bonelli has moved into new offices with best friend Hengeler Mueller and has so far made more than €3m (£2.05m) in profit this financial year.

The office is set to grow in 2007 with the addition of a corporate partner from one of Bonelli’s Italian offices.

An overall revenue of €130m would mean an average growth rate of 23 per cent for the firm over the past two years, and a €44m (£30.01m) boost from 2005’s turnover of €86m (£58.66m).