Eversheds Sutherland offices in the Quarry Bay section of Hong Kong / Photos: Scott Brooks/ImagennixEversheds LLP Profits Jump 13% As Top Partner Pay Soars
The firm's international LLP accounts show its financials grew across the board.
January 02, 2020 at 08:58 AM
2 minute read
Eversheds Sutherland has posted strong financial results for its non-U.S. business, including a double digit percentage increase in revenue.
The group's total turnover in the year ended April 2019 climbed 10.3% to over £547m from £496m in 2018. The figures are contained in the firm's LLP accounts, filed on Companies House in December.
Its European offices saw the biggest growth by jurisdiction, with its turnover soaring by 29% to £82.9m. The U.K. offices' turnover grew 6% from £395.5m the previous year to £419.6m in 2019.
The firm's operating profits also jumped by 13.2% to £174.5m in 2019 from £154.1m previously.
During the period the top earner in the LLP took home £1.7m – a jump of 11.2% on the previous year. The firm's top management pay also leaped, growing 13% from £4.8m to £5.4m.
The filing also revealed average remuneration per member within the LLP also rose, increasing by 9% to £473,281.
The firm's international LLP accounts include activity from the firm's U.K, France, Germany, Luxembourg, Netherlands, Hong Kong and Jordan offices, as well as from branches in Qatar, China and United Arab Eemirates (UAE) and a joint venture in Saudi Arabia.
Since 2018, the firm has expanded its presence across Europe through a number of mergers. In 2018, the firm combined with local firms in Prague and Bratislava and last June, it strengthened its presence in Russia via a merger with a Moscow-based firm.
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