The three way union of CMS, Nabarro and Olswang cost the partnership £28.9m in ‘reorganising, restructuring and integrating’ the merger in the year to April 2018 the combined firm’s first LLP accounts showed this week (24 January).
But operating profit at the post-merger firm rose to £160m, up 30% on the £122.5m combined profits of the three legacy firms. The last accounts published for the firms pre-merger showed profits had fallen at all three in 2016-17.
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