Norton Rose posts £845m revenue for non-Fulbright business

Norton Rose Fulbright’s global revenue has grown to £845.3m excluding its newly acquired US arm, with the firm describing the hike as a 4 per cent like-for-like rise.

Peter Martyr
Peter Martyr

The figure covers the legacy Norton Rose Group, now Norton Rose Fulbright, and includes fees generated within its profit pools in the UK and Emea, Australia, Canada and South Africa.

The latest revenue result is a conversion from a US dollar figure of $1.334bn. This compares with the 2011/12 figure of $1.32bn (17 May 2012), which the firm has converted as £822.3m.

Based on the sterling figures converted at average exchange rates during the year, fee income has risen 3 per cent globally, with the additional 1 per cent increase resulting from the depreciation of the South African rand against the pound.

The firm has not published its global average profit per equity partner, with The Lawyer last year estimating this at £420,000.

Global CEO Peter Martyr said in a statement: “We are happy with a 4 per cent growth across the world, particularly given the economic climate and the huge strategic steps we have made.”

The Fulbright merger, which went live on 3 June, creates a global firm of roughly 3,800 lawyers and overall revenues of around $2bn (£1.3bn) (2 June 2013).