Legal Business Blogs

Financial results 2014/15: OC posts 15% revenue growth as strong performance continues

Osborne Clarke (OC), after being the fastest growing firm in the LB100 last year with a 26% rise in revenue to €169m, has consolidated that increase and posted another strong result for 2014/15 of €195m, up a further 15%.

The revenue growth was particularly buoyed by the OC’s international offering with UK revenues growing at a slightly slower pace of 9%, up from £88m last financial year to £97m. According to the firm, the UK’s six sector groups which includes digital business, infrastructure, real estate and life sciences and healthcare accounted for 93% of that figure.

It has been a strong year for Legal Business‘ law firm of the year which has cemented itself as one of the UK’s most upwardly mobile law firms. Half-year results for 2014/15 saw the firm record a double-digit increase of 17%, with revenue across the international business increasing from £66.1m to £70.7m. In the UK, there was a strong increase of 13.5% from £42.1m for the same period last year to £47.8m.

OC has also embarked on a period of aggressive expansion internationally, opening offices in Europe, through a new office in Amsterdam and the US, with two new offices in New York and San Francisco, while it also embarked on its first foray into Asia through strategic alliances with Hong Kong law firm John Koh & Co and with BTG Legal in Mumbai. The firm also has a new UK managing partner in the shape of Ray Berg, who took over the role on 1 January 2015.

Commenting on the results, Berg said: ‘This has been a stunning year for Osborne Clarke and it’s a real privilege for me to be able to announce such great results so soon after being elected. Much credit for these results goes to our previous managing partner Simon Beswick, but most importantly to our incredibly focused and hard-working team. We have many initiatives in progress that will benefit our clients, our people and our business over the coming 12 months.’