International expansion drives Holman Fenwick to 10 per cent growth

International expansion has boosted turnover at Holman Fenwick Willan (HFW) by 10 per cent with the firm posting turnover of £123.8m at the year-end, up from £112.5m in 2010-11.

The firm said £55.7m of the revenue, 45 per cent, had been generated by its offices outside London. The figure is marginally down from 2010-11 when HFW said 50 per cent of revenues, £56.3m, were generated outside London.

Net profits, it added, remained “broadly” on a par with 2010-11 at £32m.

“We’ve made a number of significant investments over the last twelve months, both in new offices and in the recruitment of lateral hire partners,” HFW managing partner Greg Gray said.

The firm inherited a base in São Paulo in October through a deal to take over the former office belonging to legacy Barlow Lyde & Gilbert (12 October 2011). It came six months after the firm hired the eight partner aviation team from its rival (24 March 2011), a deal which also gave it 16 new associates.

This came after the firm put in motion plans to expand its Perth office, which was launched in May last year (20 May 2011).

It is the latest firm to unveil year-end turnover with Kennedys also posting double digit growth, up 11.6 per cent from £96.8m to £108m (23 May 2012).

Clyde & Co, meanwhile, is also expecting to post double-digit growth without taking into consideration its takeover of BLG.

Beyond the insurance sector, TMT-focused firm Olswang saw turnover rise 17 per cent from £92.6m to £108.1m (21 May 2012).