Bird & Bird has posted positive financial results for 2012-13, with turnover rising by 6 per cent from £235m to £249m.
The firm said its revenue growth was in line with budget and described it as “a solid performance in the face of challenging economic conditions in our major markets”.
The firm added that it had not yet finalised its profit figures or estimated average profit per equity partner (PEP). In the previous financial year (2011-12) Bird & Bird posted a rise in PEP of 10 per cent to £515,000 on the back of a net profit rise of 8 per cent. Turnover that year rose by 10 per cent from £214.6m in 2010-11 to £235m (6 August 2012).
In a statement Bird & Bird said it had continued to invest throughout the year with two new offices in Denmark as a result of its merger with Danish IP/IT boutique Bender von Haller Dragsted (11 March 2013), and two new cooperation agreements, in Switzerland with local firm BCCC Avocats and with Australian firm, Truman Hoyle (3 April 2013).
The technology firm also added 36 new partners including 11 internal promotions.
“Despite this significant investment, we have continued to show prudent management of the firm’s finances and all partner payments have been made during the year,” added a firm spokesperson in a statement.