Belfast-based international law firm grows turnover to £482m
BELFAST-based international law firm Pinsent Masons has reported a 7 per cent increase in turnover to £482 million.
The global firm announced its financial results yesterday, which also show gross profit grew by 2.5 per cent over the year.
In the last 12 months the company has continued to pursue a sustained programme of transformation, opening its eighth international office in four years, as well as expanding business in areas complementary to legal services and investing in alternative forms of service delivery.
In January the firm announced the plans to open its third German office in Frankfurt, while in March it appointed Kirsty Dougan to further-develop the firm's Vario business in Asia Pacific.
Pinsent Masons has also invested in its Belfast team, with a number of new hires and promotions over the last year.
Partner and head of Pinsent Masons Belfast office, Andrea McIlroy-Rose said they are encouraged by the latest results. and the growth they represent for the firm.
"In Belfast we are proud to have played a part in that effort with our work during the financial year 2018/19 marked by some stand-out quality mandates including EPH's acquisition of Kilroot and Ballylumford Power Stations, Texthelp in bringing on board private equity funding from LDC, and Somague's construction of Ulster University's Belfast Campus," she said.
"Pinsent Masons financial performance underpins our strength in depth and allows continuous investment into our innovative technology platforms that are driving change in the legal market whilst at the same time strengthening firm culture and growing our global footprint.”
John Cleland, managing partner at Pinsent Masons added:
"The past year has been one of unprecedented change and complexity for our clients. Our partnership is continuing to focus on making the investments that enable us to help clients respond to that trend. We're continuing the transformation of our business from an expertise-based law firm into a modern, international professional services business with law at its core. At the same time, we're concentrating not just on what we do, but how we do it. Our philosophy is that if we continue to do business in the right way and for the right reasons, financial performance is just one element of success that will flow from that. We want to grow and be successful, but do so in a way that makes a positive impact on our clients, our people and the communities in which we operate."