CMS Posts Modest Uptick In Global, UK Revenues
The firm's global topline grew by 4.5% during the most recent financial year, but growth across its U.K. business was smaller.
July 14, 2020 at 04:40 AM
2 minute read
Penelope Warne, CMS senior partner.
International law firm CMS has increased its global revenue by 4.5% to hit €1.426 billion.
The modest increase is similar to the previous year's results, where the firm grew revenue by 5%.
In the U.K., revenue growth was slightly smaller, expanding by under 4% for the 2019/20 financial year to reach £566 million, according to a statement by the firm.
The latest financial results come shortly after the firm promoted 41 lawyers to the partnership in April, its smallest round since the triple merger with Olswang and Nabarro in 2017.
Women accounted for 40% of all promotions, and half of U.K. promotions.
In January, the firm also re-elected its senior partner, Penelope Warne for a second four-year term, following what two CMS partners said was a contested election involving two other candidates.
In a statement on the results, Warne said: "We are committed to building a dynamic, successful law firm. Looking back at the last year, we are pleased with our achievements but looking forward it is important to recognise our strength in being able to navigate a globally changing landscape.
"The environment and sustainability, diversity in all forms and technology will continue to be on the agenda, arguably even more so."
CMS is one of the first top firms to release its financial results, following Kennedys and Shoosmiths earlier in June and July.
Read More
London Dominates in Reduced CMS Promotions Round
Kennedys Kicks off UK Results Season With Strong Turnover Growth
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