Bird & Bird has reported a 5.7 per cent increase in its 2015/16 turnover, with revenue rising 5.7 per cent to hit €343.8m (£273.8m).
In the previous financial year turnover rose 6.6 per cent to €325.5m. Bird & Bird’s revenue went up by 7 per cent in the first half of the last financial year, but growth slowed in the second half due to challenging market conditions in Europe, a continued slow-down in the Asian economy and the impact of Britain’s decision to leave the EU.
Bird & Bird’s average profit per equity partner of €569,000 (£454,000), inched up 1.3 per cent from £448,000. However net profit rose 11.3 per cent, from £40.8m to £45.4m (€56.9m). The firm increased the size of its equity partnership from 91 to 100 during the year.
Bird & Bird said its strategy of remaining focused on technology and the digital world had enabled it to deliver 25 years of consecutive growth.
In May partners re-elected chief executive David Kerr for another three years and appointed Italian managing partner Massimiliano Mostardini as its new chairman. Kerr has been in charge of the firm since 1996.
Last year saw the firm launch a Luxembourg office to support clients in the Unified Patent Court and in the financial services industry as well as invest in new technology aimed at helping clients.
Bird & Bird also created a retail and consumer sector group, which is particularly targeted at digital commerce business.