Bird & Bird cites strong Asia growth as firm reports double-digit H1 hike
Bird & Bird has reported a double-digit rise in half-year revenues for the 2012-13 financial year, with fee income up 12% on the same period last year. The firm, which manages its accounts in euros, declined to reveal an exact half-year turnover figure, but estimates that it has seen 2% growth on a pound sterling basis when currency fluctuations are taken into account.
November 26, 2012 at 12:42 PM
2 minute read
Bird & Bird has reported a double-digit rise in half-year revenues for the 2012-13 financial year, with fee income up 12% on the same period last year.
The firm, which manages its accounts in euros, declined to reveal an exact half-year turnover figure, but estimates that it has seen 2% growth on a pound sterling basis when currency fluctuations are taken into account.
The result comes after the firm this July announced double-digit revenue growth for the full 2011-12 financial year, up 10% to £235m.
According to the firm, the half-year rise in revenue has been seen across its offices in Asia and the Eurozone.
CEO David Kerr (pictured) told Legal Week: "It's been a difficult market but we've seen a good performance so far. We've been surprised that we've been seeing growth across the contentious and transactional practices, as well as across the Asian, European and UK markets – it has been surprisingly widespread.
"We've seen the strongest growth in our Asia practice, where headcount has grown 25% in the last six months. We've seen a good half and we hope it carries on.
"In terms of expansion, we are looking at a different range of fast-growing territories and are very open to where we go next. Our clients are very keen to see us cover more territories, so watch this space."
The news comes after Pinsent Masons reported a 4% rise in H1 turnover figures, with the firm taking in revenues of £146m for the first six months of the financial year.
Clyde & Co has so far posted the largest H1 growth result among major UK firms, with a 37% rise in turnover to £145m following its merger with Barlow Lyde & Gilbert. Excluding the merger, the firm saw like-for-like turnover increase by 10% during the first half of the financial year.
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