Legal Business Blogs

Financials 2020/21: RPC latest to shrug off lean spell to post robust financial growth

RPC is the latest LB100 firm to emerge from a ‘very challenging’ period to today (22 July) post exceptional financial results for 2020/21.

The firm’s total revenue for the financial year 2020/21 was £136m, an increase of 23% on FY20 (£110.1m) and 26% on 2018/19 (£108m).

Meanwhile, its net profit margin rose to 35%, up six percentage points on FY20 (29%), while profit per equity partner increased to £634,000, up a striking 50% on the £424,000 recorded last year.

These latest results are significant uptick in performance following a lean couple of years in which the firm overhauled both its business lines and its equity partnership structure.

Managing partner James Miller (pictured) said revenue growth was evident across all offices  (London, Bristol, Singapore and Hong Kong) in the last financial year: ‘These results reflect just how unbelievably hard our people have worked over this past year, and in especially challenging circumstances for many of us and our clients. The numbers speak to our high-performance culture, unwavering commitment to clients and the quality of our people. While the news is undoubtedly very positive for our business, they are set against a backdrop of many people – and many businesses – experiencing a very challenging year; both professionally and personally.’

Miller also noted that the firm has continued to invest in developing and hiring new talent. This includes a commercial disputes team in Singapore acquired from Bird & Bird, as well as the hire of Tom Purton, Travers Smith’s former head of commercial, IP & technology, at the beginning of the year. RPC has also made up a total of 28 new partners in the last 15 months.