Fieldfisher Maintains Double-Digit Revenue Growth in Half-Year Financials
The firm has attributed its growth to its European expansion strategy, particularly in Germany.
December 11, 2019 at 06:25 AM
2 minute read
Fieldfisher's revenues grew by 12% to £129 million in the first half of 2019, the firm has announced in its latest set of financial results.
The firm maintains its position as among the fastest-growing firms in the U.K., having in June reported a 17% rise in turnover to £242 million for the 2018-19 financial year – its third successive year of double-digit growth.
In the six months to October 2019, the firm merged with Irish firm McDowell Purcell to launch its Dublin office in May and added three new practices in Paris, including arbitration, public law and real estate.
The firm has attributed much of its recent growth to its fortunes in Germany, driven by key mandates and an expansion into the legaltech sector in Hamburg.
This year, the firm has also expanded into new markets, having in January acquired Mayfair boutique Cummings Law to launch a specialist finance firm.
However, the results for the first half of 2019-20 represent a tapering of growth compared to the same period the previous year. Last year, in the six months to November 2018, the firm posted half-year revenues of £97 million, representing a 26% jump.
Following the latest results, managing partner Michael Chissick said in a statement: "All practice groups have exceeded last year's revenues and we are fortunate to have secured a number of excellent new clients across the group, as well as maintaining strong relationships with existing clients.
"The first half of 2019/20 has shown signs of a slowdown in transactional activities, however the breadth and depth of expertise across the firm means we have benefited from increased demand for wider corporate work, specialist technology, outsourcing and privacy advice, dispute resolution, regulatory and financial services instructions."
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