Uría Menéndez returns to growth with 3 per cent revenue rise to €185.46m

Slaughter and May best friend Uría Menéndez has reported the strongest figures of all the big four Spanish firms, hitting a revenue rise of 2.9 per cent for 2013.

Luis de carlos uria
Luis de Carlos

The firm has reported revenue of €185.46m (£155.2m) for the last year, up from €180.2m in 2012 (1 March 2013). The growth came with no change in headcount.

Uría is the fourth of the four largest Spanish firms to report its 2013 results. Garrigues kicked off last year with a turnover dip of 1.7 per cent for 2012/13 (31 October 2013). Gómez-Acebo & Pombo also said its turnover had dropped, by 0.9 per cent (19 February 2014).

However Cuatrecasas Gonçalves Pereira reported a 1 per cent rise in turnover between 2012 and 2013 (26 February 2014), its third successive year of growth despite the economic crisis.

Uría’s managing partner Luis de Carlos said 2013 had begun slowly, but in the second half of the year activity had picked up substantially. This enabled the firm to beat its growth target for 2013.

“Our feeling is that the perception of the Spanish economy and the eurozone in particular improved throughout the year,” de Carlos said. “2013 was the first year we noticed an improvement in the corporate area, especially after the summer.”

De Carlos said investment into the Iberian peninsular was coming particularly from outside Europe, mainly from Asia, Africa and Latin America. He added that the corporate, real estate and capital markets teams had had an especially strong year, while litigation, tax and employment had remained solid.

According to de Carlos 2014 had also begun well, with a number of capital markets transactions closing.