Salans posts 2% revenue rise for 2012 ahead of Dentons merger completion
Salans saw turnover creep up last year ahead of its combination with SNR Denton and Canada's Fraser Milner Casgrain (FMC). The European law firm - which is set to merge with its transatlantic and Canadian counterparts later this month - saw revenues rise to €209.5m (£179.5m) during the 2012 calendar year, up 1.6% from the 2011 figure of €206.3m (£177.8m).
March 18, 2013 at 08:57 AM
2 minute read
Salans saw turnover creep up last year ahead of its combination with SNR Denton and Canada's Fraser Milner Casgrain (FMC).
The European law firm – which is set to merge with its transatlantic and Canadian counterparts later this month – saw revenues rise to €209.5m (£179.5m) during the 2012 calendar year, up 1.6% from the 2011 figure of €206.3m (£177.8m).
The firm also saw net profit grow by 1.4% to €42.5m (£36.4m), up from 2011′s total of €41.9m (£35.9m).
Meanwhile, staff headcount dropped to 1,542 from 1,577 in 2011, alongside a fall in net lawyer headcount to 760, down from 770. However, the firm's equity partner numbers increased to 83 in 2012, up from 76 the previous year.
Salans' limited liability partnership accounts filed last year revealed that the firm's top earner made €1.4m (£1.1m) in 2011.
Salans' three-way merger with SNR Denton and FMC, which is set to create a new 2,500-lawyer firm known as Dentons, will officially go live on 28 March. It will be structured as a Swiss verein, with distinct profit pools in the US, UK, Middle East and Africa, Europe, Asia and Canada.
Salans' London arm will join SNR Denton's UK, Middle East and Africa LLP, while the firm's New York office will join SNR Denton's US LLP. SNR Denton's Moscow and Paris bases are set to join Salans' European LLP. Both firms' outposts in Kazakhstan are currently still under negotiation.
Merger discussions between SNR Denton, Salans and FMC started last year, with partners voting through the combination last November.
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