Legal Business Blogs

Profits jump 18% at Bircham Dyson Bell as turnover benefits from boutique buy

Westminster firm Bircham Dyson Bell has posted respectable financial results for the 2014/15 year as it grew income 10% to £34.5m from £31.3m and generated profits of £11.1m – up 18%.

The firm’s performance was driven by the firm’s charities, government and infrastructure group, as well as real estate, litigation and corporate and commercial departments. The firm said it further benefitted from the acquisition of boutique Ambrose Appelbe in 2014, a strategic bid to enhance the performance of its family and private wealth teams and adding around £2m to its top line.

PEP also recovered substantially rising 27% to £252,000, after the firm suffered a fall in numbers last year after converting to an all-equity partnership in summer 2013.

Jesper Christensen, the firm’s managing partner, said: ‘These are excellent financial results, with revenue increasing as a result of ensuring that client satisfaction remains at the heart of everything we do. The results are also further proof that the single equity structure adopted in June 2013, under which all partners have an equity stake in the business, has been a great success.’

Chief operating officer Mark Jones added: ‘We have every confidence in the ability of the firm and our people to build on our strong performance over the last 12 months and ensure our continued sustainable and profitable growth.’

Other national players to announce healthy results includes top-50 UK law firm Burges Salmon which in late July posted another year of solid growth as results released for the 2014/15 year show revenue up by 6% to £80.8m from £76.5m while profit per equity partner jumped 11% to £485,000.