Osborne Clarke to pay UK staff bonus as 2013-14 revenue soars 26%
Osborne Clarke (OC) is set to pay all of its UK staff a bonus after seeing firmwide revenue soar by 26% during the last financial year.
May 12, 2014 at 07:03 AM
2 minute read
Osborne Clarke (OC) is set to pay all of its UK staff a bonus after seeing firmwide revenue soar by 26% during the last financial year.
The firm saw total turnover climb to £142m in 2013-14 up from £112.8m the previous year, according to provisional figures released by the firm.
UK operations brought in £88.4m, a 16% increase on the equivalent figure the previous year of £76.4m.
In light of the financial growth OC is set to hand out a bonus to all staff in the UK – distributing a bonus of 2% of their salaries in a move which will represent the first time the firm has paid out such a bonus since the 2007-08 financial year.
The firm did not disclose unaudited partner profit figures but OC managing partner Simon Beswick said that he expects they "will be up healthily".
Beswick said that all of the firm's sector groups increased their contributions to firmwide revenue, with financial services as the standout performer by sector. The firm's transactional groups – corporate, banking and real estate – were the best-performing practices.
Beswick (pictured) said: "All of our sectors and practices have had a good year. Our figures reflect growing market confidence and volumes of work available. I think this year's figures stem from our sector focus paying off, which has been in place for a few years now, as well as improved market conditions."
The total revenue figure accounts for the firm's launches in Paris and Brussels last summer, as well as New York in October and San Francisco in March. Last December the firm outlined plans to launch in the Netherlands this year with a new base in Amsterdam.
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