International law firm Pinsent Masons has reported turnover of £449.8m for 2017/18.
The results follow a period of sustained investment in the firm’s platform and people. In the past year alone, Pinsent Masons was named the top professional services firm for LGBT inclusivity by Stonewall and was one of the first law firms to be featured in the UK’s inaugural Social Mobility Index.
The Leeds office contributed to the growth with its teams advising on some of the largest deals in the region.
According to The Business Desk, the firm saw a 10% increase in fees billed, equating to a 6% increase in total turnover.
The firm’s total annual turnover represented growth of over 40% and profit growth of 60% over the past five years.
Around 90% of the revenues are now generated from the clients operating within the firm’s core global sectors, which include Advanced Manufacturing and Technology, Financial Services, Infrastructure, Energy and Real Estate.
Profit per equity partner increased by 4.4%.
Jacqui Timmins, head of the firm’s Leeds Office, said: “The global success of the firm is strongly reflected in Yorkshire with our teams advising on some of the biggest deals in the region. These include:
- Advising on four public takeovers in the last 6 months culminating in advising Fenner on its £1.2bn recommended takeover by French group Michelin
- Advising Leeds City Council on their largest highway scheme for 50 years,the East Leeds Orbital Road, which will open up land for 5,000 new homes on the east side of the city.
- Advising on the delivery on the International Advanced Manufacturing Park (IAMP) next to Nissan’s Sunderland car plant. The first phase now has planning and is on site, creating a home for Nissan suppliers from the UK and abroad.
John Cleland, managing partner at Pinsent Masons, added:
“Our vision is to be recognised as an international market leader in the global sectors in which we specialise. What we are seeing in our financial results, year-after-year, is the benefit of investing in being an organisation that clients enjoy working with. Yes, that means building out our platform, investing in new propositions and delivering on the promise of technology-enabled legal services – but it’s also about being an organisation where our values are imperatives. We were pleased to be named the UK’s leading legal brand this year because the research reflects the feedback we get from our clients, which is that our people are consistently living up to the promises we make to the market. We see the firm’s sustained financial success over a number of years as a consequence of that commitment.”
This is a fantastic achievement for Pinsent Masons, and as they move forward with their continued growth, they are of course looking to increase their headcount. If you are searching for your next legal role, Pinsent Masons are a featured employer on our website.