Luther’s global turnover up 12 per cent as German revenue breaks through €100m

German firm Luther has reported a 12.4 per cent rise in revenue for the 2013/14 financial year, with domestic turnover breaking through the €100m barrier for the first time.

The firm reported total revenue of €114m (£89.6m) for the last financial year, a rise of 12.4 per cent from 2012/13 when Luther produced a global turnover of €101.4m (13 September 2013).

Of that, €101.5m came from Germany with the balance from Luther’s five international offices in Brussels, London, Luxembourg, Shanghai and Singapore. Growth in Germany was 9.6 per cent, while the international offices expanded by 42 per cent from €8.8m in 2012/13.

Headcount also increased last year. Luther now employs 294 lawyers and tax advisers in Germany and another 70 abroad, with its equity partnership increasing from 63 to 67.

Luther has been recruiting constantly in the past few months, with hires including the Dusseldorf office of fellow German firm GSK Stockmann & Kollegen (15 May 2014).

Co-managing partner Elisabeth Lepique said Luther’s strong positioning advising large and medium sized businesses had paid off. She said the firm had grown its work for DAX-listed companies last year as well as expanding the amount of work generated by Asian clients.

Luther’s German turnover has now risen by 48 per cent since 2008/09, when it recorded revenue of €68.5m.