Osborne Clarke revenues rise to £112m, growth slows in the UK

Osborne Clarke has seen turnover increase by 14 per cent over the last financial year from £98m to £112m.

Simon Beswick
Simon Beswick

The firm said growth was largely driven by expansion outside the UK by mergers with its former Spanish and Italian Alliance partners, Osborne Clarke Spain and SLA Studio Legale Associatos (29 March 2012).

Growth overseas has outpaced that at home, with the UK offices posting a slight fall – by 1 per cent – in revenue from £98m in 2011/12 to £97m in 2012/13.

Like for like net profit, meanwhile, has fallen by 5 per cent from £37m last year, to £35m.

OC has expanded its partnership by 28, making 20 lateral hires and eight internal promotions in the 2012/13 financial year.

At the end of the year the firm announced the appointment of its 50th London partner, Mark Spinner, who was formerly UK corporate head at Eversheds (27 February 2013).

However, OC has also seen some departures. It began the last financial year with the exit of litigation partner duo Ed Crosse and Tim Boyce who quit the firm to join Simmons & Simmons (30 May 2012).

The 2013/14 year has started with some rationalisation at the firm with OC putting 13 senior associates at risk of redundancy (15 May 2013).

The merger in Spain went live in July under a Swiss verein model, and gave the firm offices in Milan, Rome, Padova, Brescia, Madrid and Barcelona.