Norton Rose reports 4% turnover rise for year up to Fulbright merger
Norton Rose Fulbright has reported a 4% increase in global turnover after seeing income rise to $1.334bn (£845.3m) during 2012-13. The figures cover the year to 30 April, and as such do not yet reflect the firm's transatlantic merger with Texas firm Fulbright & Jaworski, which went live on 1 June.
July 04, 2013 at 07:03 PM
2 minute read
Norton Rose Fulbright has reported a 4% increase in global turnover after seeing income rise to $1.334bn (£845.3m) during 2012-13.
The figures cover the year to 30 April, and as such do not yet reflect the firm's transatlantic merger with Texas firm Fulbright & Jaworski, which went live on 1 June.
As with last year, the total figure covers all of the Norton Rose Group's four separate profit centres – Norton Rose LLP (which includes Europe, the Middle East and Asia), Norton Rose Australia, Norton Rose Canada and Norton Rose South Africa, which operate under a Swiss verein structure.
The firm has calculated the 4% increase by combining a 3% rise in sterling terms from last year's figure of £822.3m with an additional 1% due to the South African rand depreciating against sterling over the year.
The firm declined to reveal a figure for profits per equity partner.
In term of practice areas, corporate was the main contributor with 42% of total turnover, with disputes providing 34% and finance 22%.
Norton Rose Fulbright global chief executive Peter Martyr commented: "We are happy with a 4% growth across the world, particularly given the economic climate and the huge strategic steps we have made."
The 1 June merger which formed Norton Rose Fulbright has seen the creation of a firm with close to 3,800 lawyers and total revenues of around $2bn (£1.3bn). Globally, Norton Rose Fulbright has offices in more than 50 cities across Europe, the US, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.
The firm is also eyeing further expansion into new markets in Africa and the west coast of the US, with Nigeria, Egypt, Mozambique, Angola and California all under discussion.
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