Watson Farley & Williams’ (WFW) has announced that its revenue climbed 7 per cent in 2014/15 from £117m to £125m.
The figures reflect the firm’s half year results published in November, showing an increase in revenue by 8 per cent reaching £56.8m (26 November 2014).
Co-managing partner Chris Lowe said in a statement that WFW expected profitability to rise too, saying that the firm said its point values would be up by 11 per cent compared to 2013/14. In that year net profit hit £30m, up 24 per cent from 2012/13, with average profit per equity partner (PEP) hitting a record high of £480,000.
The firm’s revenue has risen every year since 2004. It increased by 14.6 per cent in 2013/14 from £102.1m to £117m (2 June 2014), following the election of co-managing partners Lother Wegener and Chris Lowe (13 December 2013).
It also rose by 2 per cent the year previously from £99.9m to £102.1m (16 July 2013), when PEP dropped substantially by 13 per cent.
This year the firm launched its first office in the Middle East (18 September 2014), taking the number of offices up to 14. It also promoted seven lawyers to partnership (5 May 2015) bringing WFW’s total partner headcount to 140.
Several key lateral hires recently include that of Fried Frank Harris Shriver & Jacobson’s Siân Withey and Rob McBride, who are set to establish a debt securities and structured finance practice (27 May 2015).