Osborne Clarke posts 17 per cent increase in half-year turnover to £70.6m

Osborne Clarke has seen its revenue increase by 17 per cent in the first half of the 2014/15 financial year, up from €77m (£61m) to €89.1m (£70.6m). 

In the UK, the firm saw an increase of 13.5 per cent from £42.1m to £47.8m, ahead of new managing partner Ray Berg taking up the reins in January 2015 (5 November 2014).

This is an increase of 5 per cent on the same time last year, when the firm posted revenue of £59.8m (22 November 2013).

UK managing partner Simon Beswick said: “We’ve been on a good run for some time. It was a good first half but it masks that we had the best first quarter we have ever had.

“In the last two to three weeks people have regained their confidence and are trying to do new things.”

Beswick said that the firm’s London office has seen growth in all of its practice areas, although its transactional practice was leading the trend with “a very strong performance”.

Osborne Clarke announced a best friend relationship with BTG Legal in Mumbai earlier this month (5 November 2014), which Beswick hopes will help field new growth for the second half of the financial year alongside its Hong Kong office (1 August 2014).

Beswick said: “We are going to continue to grow the European business but we are looking to grow the presence in Asia as well.”

Osborne Clarke’s key deals for this period include its work advising KPMG on its strategic alliance with McLaren, advising medical device company ATOS in Italy on the acquisition of pharma company Distrex, and advising payment processing specialist Wirecard in Germany on the acquisition of 3pay, a Turkish payment provider.

Last year, Osborne Clarke posted a 26 per cent increase on its 2012/13 figures with turnover rising to £142m from £112m the previous year (12 May 2014). It handed out a 2 per cent bonus to all of its staff members as a result.