Stevens & Bolton sees double-digit growth across the board

Guildford-based Stevens & Bolton’s revenue rose by 10.1 per cent from £18.05m to £19.87m in the 2013/14 financial year.

The firm reported a corresponding 11.1 per cent rise in net profit from £5.4m to £6m.

It is the fourth consecutive year of top-line growth for Stevens & Bolton, which also saw its average profit per equity partner rise by 17.5 per cent from £319,000 to £375,000 last year.

The results from 2013/14 follow more modest growth the previous year, when Stevens & Bolton increased its income by 2.3 per cent from £17.6m to £18m and saw PEP rise 2.9 per cent from £312,000 to £321,000 at the close of the 2012/13 financial-year.

The corporate team generated 25 per cent of the firm’s 2013/14 income, while 22 per cent came from dispute resolution, 20 per cent from property, 8 per cent from finance and the remaining 25 per cent from other practices areas.

The IP team won new work from Casino de Monte-Carlo, Lonza Biologics and Regent University in the US. 

The firm’s new aviation practice, which launched in the autumn, also won new clients including Emirates, AeroTurbine, Royal Aero GmbH and Air Partner.  

Stevens & Bolton managing partner Ken Woffenden acknowledged that the firm was still experiencing a downward pressure despite market conditions improving.

“Importantly, we have achieved growth across every area of the firm, whilst continuing to invest in our business, infrastructure and our people,” he said.

Forsters and Michelmores also reported double-digit growth in revenue for the 2013/14 financial-year (13 May 2014).