Legal Business Blogs

H1 2013/14: Olswang sees turnover jump by 15%

Olswang has joined the early ranks of top 50 firms to reveal their half year (H1) 2013/14 results, with turnover up 15% on the same period last year, bringing in revenues of £57.6m compared with £50.03m last November.

In a statement, the top 35 firm’s chief executive, David Stewart (pictured), who in April was elected for a further three-year term, commented: ‘This is a good performance in what is still a challenging market. We’ve seen strong performances from our German, Belgian, Asian and French teams, combined with a much better London first half. We are now focused on delivering an equally strong second half year to continue our progress towards our strategic goal of becoming a leading international firm focused on the TMT and real estate sectors.’

In the past six months, 367-lawyer Olswang has strengthened its international offering with four new partners in Spain, France and Germany, while appointing six partners across its London practices, including City tax partner Andrew Quale who joined in June from Eversheds.

The technology and media-centric firm has advised on a number of high profile TMT deals over the last few months, including standing alongside Addleshaw Goddard and Linklaters advising on the joint venture between Sainsbury’s and Vodafone to a create a new mobile phone network, ‘Mobile at Sainsbury’s’.

Other deals include advising IMG Worldwide, the global sports, fashion, and media company, on its partnership with Livestream, a market leader in live video streaming for online distribution, and long-standing client ITV on two acquisitions.

Olswang’s results come as the early picture for H1 is so far positive, with Gateley and Trowers & Hamlins last week declaring a H1 revenue growth of 4%, while Weightmans reported a 7% uplift and Clyde & Co set a high bar for the top 20 with a turnover increase of 16.5% on figures this time last year.