Watson, Farley & Williams (WFW) has posted an 8% rise in revenues for the first half of 2014/15 with global turnover standing at £56.8m for the half-year ending 31 October 2014, up from £52m for the same period last year.
Although a positive result, the growth is lower than 2013’s revenue increase, which rose 12% from May to October in 2013, and heralded a strong 2013/14 year for WFW, which posted a 15% increase in turnover to £117m – a huge 61% increase over the last five years. Last year also saw profits per equity partner at the firm grow an impressive 26% to £484,000.
WFW managing partner Chris Lowe said: ‘This is a very encouraging result for the firm. Whilst it is difficult to predict the outcome of the complete year, we have seen a good level of client demand across our core sectors and are continuing to expand our offering in these and other services, producing a strong start to the year.’
In September, the firm opened its 14th office in Dubai as client demand increased for advice in business dealings across the Middle East, particularly the UAE and as a base for an Islamic finance practice. Finance partner Andrew Baird relocated from London to head up the new office, along with two associates.
‘We have invested in our international operations in recent years, opening six new offices in five jurisdictions since 2008, most recently in Dubai in September,’ said Lothar Wegener, managing partner at WFW. ‘We continue to be busy around the globe, seeing the returns on our strategy of strengthening our international reach.’