Taylor Wessing has reported a 7 per cent increase in global revenue for the 2012/13 financial year, with fee income rising from £212m to £228m.
The firm’s UK turnover saw a 3 per cent increase from £101m to £104.5m, while its partnership has grown 15 per cent to 365 partners.
Managing partner Tim Eyles said litigation had been a major contributor, while the firm has also added soures of revenue through offices launches in Europe and Singapore.
Eyles said in a statement: “We’re pleased to have achieved continued revenue growth despite this being a tough market. The past year has been one both of significant advancement and of investment. We have established a large geographic offering and are well placed to service the high growth industries and economies through our focus on the TMT, private wealth and life sciences industries, with litigation being a significant driver across the board.”
During 2012/13 Taylor Wessing made 15 lateral partner hires and 16 partner promotions – including only one made up in London – and opened in Bratislava, Brno, Budapest, Kiev, Klagenfurt, Prague, Singapore, Vienna and Warsaw.
Revenues include fees coming from both add-ons, while last year’s figure covered Singapore but not the new Central and Eastern Europe operations.
Last November it announced a half-year global revenue rise of 23 per cent off the back of its central European and Singapore expansion (29 November 2012), while reported full-year figures a year ago showed a 7 per cent global revenue jump from £192.3m to £206m (31 May 2012). The £206m figure was later adjusted up to £212m.
The headline figures can involve rounding up or down, affecting the percentage increase posted by the firm.