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Bird & Bird’s turnover climbs 6% to €325.5m but stays flat in sterling

Tech specialist Bird & Bird, despite stating that it has faced ‘challenging economic conditions in many of our major markets’, has posted a 6% rise in revenues to hit €325.5m.

The firm stated that in sterling terms turnover was flat on last year when it pulled in £259m. Bird & Bird has not released its profit figures for the 2014/15 financial year, but has undergone rapid expansion in the past year as it spent to reposition itself internationally.

In the 12 months to 30 April, Bird & Bird established an Australian practice by merging with Sydney-based Truman Hoyle and signed cooperation agreements with three foreign firms. The tech firm tied-up with two Indonesian firms, intellectual property specialists K&K Advocates and business law firm Nurjadin Sumono Mulyadi & Partners, and Turkish IT and telecoms boutique BTS & Partners in June.

Those moves followed similar agreements signed in recent years including in Korea with Seoul-based Hwang Mok & Park, in China with Beijing-based Lawjay Partners and in Malaysia with Tay & Partners.

Accounts filled at Companies House showed profits at the LLP fell 5% in 2013/14 from €60.3m to €57.1m as staffing costs rose. While turnover was stated as €309m in the year to 30 April 2014.

The firm said in a statement: ‘This is a solid performance across the firm, in the face of challenging economic conditions in many of our major markets. We have also seen strong growth in our traditional technology-driven sectors as well as in the growing number of other sectors in which technology and disruptive innovation are increasingly important.’