One of the most consistent success stories of the UK legal market in recent years, RPC has revealed impressive growth for 2014/15 as its revenues rose 12% to £94m, while profit per equity partner (PEP) at the firm soared 19% to £403,000.
The results mark a significant increase on last year, when the City-headquartered firm posted a rare flat performance, with revenue only slightly up by 2%, while PEP fell by 9% to £338,000. However, over the last five years, the firm has managed an average five year compound revenue and profit growth of 11.5%.
RPC managing partner Jonathan Watmough (pictured) said: ‘We’re clearly very happy with last year’s results, but it’s the story of sustained performance year on year that I’m most pleased with. Posting sustained growth throughout the recession without recourse to merger is a significant achievement. We remain fiercely independent and hugely protective of our culture – we wouldn’t let anything compromise that.
‘We’ve invested heavily in recruiting and developing people, listening to and understanding clients, and upgrading our systems and processes. Last year we saw the results of that investment bearing further fruit, and are confident that that trend will continue into FY16.’
The firm moved into non-legal consultancy earlier this year when it unveiled a new insurance sector consultancy business, focusing on management issues with the hire of Rory O’Brien, the former global head of risk consulting and software at Towers Watson.