Osborne Clarke reveals 12 per cent turnover rise at half-year point

Osborne Clarke has seen its revenue increase by 12 per cent in the first half of the 2013/14 financial year, to €71.6m (£59.8m).

Its three UK offices, in London, Bristol and the Thames Valley, saw their revenue grow by 8 per cent to £39.1m. The amount of turnover generated by the firm’s UK key clients grew by 16 per cent.

Turnover for the firm’s Spanish offices had a particularly strong growth spurt, rocketing by 25 per cent.

The first half of the financial year has been a period of investment for the firm, with its Brussels office officially opening its doors in June (3 June 2013). It launched a base in Paris in July (22 July 2013) and one in New York last month (25 October 2013). Each of the firm’s offices, excluding New York, is accounted for in the latest financial results.

Osborne Clarke’s key deals for the period include its work for longstanding client Grifols on its $1.7bn (£1bn) acquisition of Novartis (15 November 2013), and advising Caledonia Investments on its £86m acquisition of Choice Care Homes from funds managed by Sovereign Capital.

On 1 May the firm welcomed back 80 staff members, who were previously outsourced to Integreon – a move resulting in one redundancy (2 May 2013).

During the 2012/13 financial year, Osborne Clarke saw its turnover increase 14 per cent from £98m to £112m (17 June 2013) – largely thanks to its mergers with former Spanish and Italian alliance partners, Osborne Clarke Spain and SLA Studio Legale Associatos (29 March 2012). 

In a big year for the firm it also officially relocated its HQ to London from Bristol, hired its 50th London partner, and made 20 lateral partner hires.

That said, its UK offices posted a slight fall in revenue for last year with revenue dropping from £98m to £97m.