Taylor Wessing yesterday (2 June) became one of the earlier UK movers in disclosing its financial results for the 2013/14 year, posting a 21% rise in profit per equity partner to £657,000 alongside an increase in UK and global revenues of 7.4% and 6.4% respectively.
With the Anglo-German firm’s UK revenue hitting £112m and its international income now standing at £241.2m, the firm attributed the boost to an uplift in work from clients based in the Middle East, Asia and the US, while in terms of practice area litigation was singled out as a key driver. The top 20 firm also credited an improvement in its broader deal flow for better performances across finance, real estate and corporate.
The results mark an upward trajectory for the firm, building on last year’s revenue increase of 7% to £228m and constituting a 23% increase since 2008. The results also follow a period of international expansion including tie-ups in Indonesia and South Korea, where last month it formed an association with local firm DR & AJU.
On the results, UK managing partner Tim Eyles said: ‘The past 12 months have been an exciting time for Taylor Wessing, as we’ve continued to expand our international platform and strengthen our offering to the high growth industries of TMC, life sciences, energy and private wealth. Over the course of the coming year, we will continue to vigorously pursue our growth strategy.’