CMS posts 37% UK revenue jump after Dundas & Wilson merger
Fee income breaks £200m mark in the UK as firm also reports double-digit growth in global revenue
June 11, 2015 at 05:44 AM
2 minute read
CMS Cameron McKenna's UK revenue jumped 37% last year as the firm completed the integration of Scottish firm Dundas & Wilson, which it merged with in May 2014.
This morning the firm announced that turnover in the UK rose to £219.7m last year, up from £160m in 2013.
CMS also reported an 11% increase in global revenue. It said in the year to 31 December 2014 total global revenue was £753m, up from £679m the previous year.
The firm did not disclose its global net profit, but revealed that it was up 3.3% from the year before – when it also did not disclose the figure.
The firm said it had added 109 partners over the year, 78 of whom came from the combination of Dundas & Wilson and ZPG Avocats SA in Geneva, which also became part of the CMS network at the beginning of last year.
CMS executive chairman Cornelius Brandi said he was "very pleased" with the growth of the firm's revenue "in spite of the geo-political volatility in many of the regions" in which it operated.
He added: "Even more important to us than the financials are the level and quality of mandates that we receive. We have advised on some of the largest deals in Europe, and we have been ranked number one in Europe by deal count for the fourth time in five years."
Brandi said he was "confident" about the outlook for the next year despite "slowdown in China and conflict in the Middle East".
Big mandates for the firm during 2014 included advising Chinese telecoms giant Huawei on a review of the legal framework of its subsidiaries in nine European countries and acting for National Grid on electricity market reform in the UK.
Yesterday DAC Beachcroft announced its results for the 2014-15 financial year. It said its billings had risen by 3%, from £194m to £200m.
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