Fieldfisher today (26 July) confirmed a ninth consecutive year of growth, showing a solid 15% firm-wide revenue increase to £330m. Profit per equity partner (PEP) at the firm was even more buoyant, topping the £1m mark for the first time as it jumped 22% to £1.05m.
At a UK level, the firm recorded a 17% rise in turnover across its London, Manchester and Birmingham offices. The Germany practice was similarly prosperous, posting a 16% rise across the year. The Silicon Valley office, which opened in 2012, also grew in both revenue and headcount.
The numbers represent a return to form after a more muted 2021. Last year, the firm mustered modest 6% revenue growth, a marked decline from the double-digit figures to which it had become accustomed.
Practice area-wise, the financial markets and products group had the most impressive year, posting a 28% rise in revenue, though real estate and corporate were also busy, each seeing 20% growth in turnover. Disputes had a slightly more modest year, growing by 10%. Highlights from the last 12 months include the rapid development of alternative legal solution Condor, a new mass-litigation focussed German business unit, and over 20 lateral partner additions.
Managing partner Robert Shooter said of the results: ‘In-line with our strategic focus, we have recorded exceptional growth in Europe, underpinned by our strong platform across the region and driven by our ability to offer seamless multi-disciplinary and cross-border service to clients operating in this market. Key to our success has also been our focus on carefully chosen sectors and areas of growth.
‘I am immensely grateful to everyone in the firm for their hard work and contribution to our continued success. Having already built a solid business model and a high-performing international platform, we are now perfectly positioned to embark on the next phase of development focused on ever greater collaboration, integration and growth.’