Merger helps Kennedys post double-digit revenue growth
Kennedys has posted a 10% rise in turnover for the 2013-14 financial year, growing to £128.5m from £117m.
June 12, 2014 at 10:56 AM
2 minute read
Kennedys has posted a 10% rise in turnover for the 2013-14 financial year, growing to £128.5m from £117m.
The figures take into account the firm's merger deal with aviation and aerospace law firm Gates and Partners, which went live on 1 June 2013. At the time the combination was expected to add £10m to Kennedy's revenue for 2013-14.
The combined firm's UK operations accounted for 76.5% of the total amount, contributing £98.3m.
Kennedys has yet to finalise this year's profits per equity partner (PEP) figure, which came in at £429,000 last year.
The firm made five lateral partner hires during the year, including former CMS Cameron McKenna Hong Kong insurance head Michael Skrbic, who joined the London office in March from Commerzbank.
Kennedys senior partner Nick Thomas (pictured) said: "We've made some strong lateral hires throughout the past year which, along with our merger with Gates and Partners, has contributed to another positive year.
"Looking ahead, our growth will continue to be predicated on client need and organic growth. We continue to explore opportunities for international expansion and we remain very focused on driving operational effectiveness throughout our network of offices."
During the year the firm also expanded its reach in Latin America by forming an association with Bogota insurance boutique Botero Salazar Tobon & Abogados.
Last December merger talks between Kennedys and Scottish firm Simpson & Marwick were called off, with both firms citing "complex reasons" in a joint statement. A combination would have created a law firm with revenue of £160m.
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