Legal Business Blogs

‘A good start’: Fieldfisher posts 10% half-year revenue rise

The first LB100 firm to post mid-year results for 2016/17, Fieldfisher, has lifted revenue for the period by 10% to £64.1m. The firm posted an 8% rise to £58.4m for the same period last year.

The mid-tier player attributed the rise to a strong period for the firm’s disputes practice in the UK, and added that Euro earning offices such as Paris and Brussels performed particularly well.

The firm’s half-year figures do not include Fieldfisher’s recent additions in Milan, Birmingham or Beijing.

Managing partner Michael Chissick told Legal Business: ‘We’re very pleased at half year point to have a strong 10% uplift, a good start to the year. While until we finish the year we don’t know exactly how it will end, we are pleased with our result given the challenges in the last six months, like Brexit.’

Chissick (pictured) added: ‘We are continuing to implement our European expansion strategy, including opening in Netherlands and Spain. We are confident we will achieve all of our goals within the timeframe of the strategy and our good numbers give us the right platform to continue doing so.’

The firm posted a 7% increase in firm-wide revenues for 2015/16, up to £121.5m from £113.3m, while profit per equity partner (PEP) last year was up 9% to £550k achieving the firm’s highest PEP figure since 2009/10.

Earlier this year, Fieldfisher launched a new three-year business strategy titled ‘Our Future Refocused’. The firm picked technology, energy & natural resources and finance & financial services as the three sectors to accelerate focus on. Combined these areas make up almost £50m for the firm.

In the last six months, Fieldfisher expanded its international presence, announcing tie-ups with Chinese boutique JS Partners in Beijing , replacing Fieldfisher’s previous relationship with Shanghai-based Ryser & Associates in Shanghai.

Earlier this month the firm also announced its takeover of Birmingham-based commercial firm Hill Hofstetter, and in July joined up with 21 partner Milan-headquartered firm Studio Associato Servizi Professionali Integrati (SASPI) through a Swiss Verein structure.