Fladgate has posted a provisional 14 per cent rise in turnover to £42.15m for the 2015/16 financial year, becoming the first UK 200 top 100 firm to report its financial results this year.
The rate of growth at Fladgate is the same as in 2014/15 and reflects a period of sustained investment in both people and premises at the firm.
The most recent hire came last week when the firm brought in Russia specialist and dispute resolution lawyer Eugene Matveichuk as a partner from Osborne Clarke, where he was an associate director.
Fladgate has also announced the promotion of commercial property specialist Gavin Whitney to its partnership in the latest round of internal promotions, effective 1 April 2016.
Charles Wander, Fladgate chairman, said the firm’s financial results reflected the considerable efforts of partners and staff across the firm and represented a further milestone in the evolution of the firm.
“We anticipate a further increase in turnover in 2016/17 and beyond, as our business continues to evolve,” added Wander. “The appointment of Eugene and promotion of Gavin reflect the opportunities for high-calibre lawyers at Fladgate, both lateral and organic.”
Commenting on the firm’s financial performance, Fladgate’s chief operating officer, John Goreing, said: “These results highlight the continuing strength of our business and we’re delighted to have broken through the £40m turnover barrier well-ahead of the timeframe set out in our business plan.”
Headline matters for Fladgate last year include advising Greybull Capital on acquisition of 140 stores from Morrisons and acting for Merlin, the world’s second largest leisure group, on a global portfolio of hotel and leisure-related construction projects.
The firm also significantly boosted its AIM practice with the hire of two corporate partners from Fasken Martineau, Nigel Gordon and Chris Chrysanthou, several months after it hired the Canadian firm’s employment practice group head Michael McCartney.
Wander said Fladgate’s AIM practice now ranked in the top 10 in terms of numbers of clients.
He added that details of the firm’s top line for 2015/16 were not yet available but said: “We expect to see a strong profit performance.”