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Law firm Pinsent Masons unveils upbeat set of financial results

Andrea McIlroy-Rose, partner and head of Pinsent Mason’s Belfast office
Gary McDonald

MULTINATIONAL legal services business Pinsent Masons, which has a team of more than 100 in Belfast, has unveiled an upbeat set of financial results, with revenue climbing 6 per cent from £503.3 million to £531.1 million and profit per equity partner (PEP) jumping 16 per cent from £636,000 to £739,000.

The firm's partnership numbers also increased from 459 to 478 throughout the year.

The results were described as “very encouraging” by Andrea McIlroy-Rose, partner and head of Pinsent Masons' Belfast office.

She said: “Delivering good growth underpinned by healthy financial performance has led to a very encouraging 2021/22 financial year.”

She said sector-led and commercial expertise combined with a blend of professional services skill sets and the use of process and technology has enabled the Pinsent Masons team in Northern Ireland to advise on a number of high-profile purpose-led projects.

These included Ireland's first ever energy storage project (it advised SUSI Partners on its purchase of a 50MW battery storage project in Kells from German renewables developer ABO Wind) and the Equality Law group's work with St Modwen to address gender imbalance across its business.

Ms McIlroy-Rose added: “The Belfast office has also concentrated this year on reviewing the remuneration and benefits packages we offer in order to attract and retain the best people and as a consequence of the change in working practices which has resulted from the pandemic.

“We have retained the real flexibility which the firm has always been known for, but conscious of the competition from Dublin and the rest of the UK to work in different locations, we have rebased our salaries beyond the local market levels to help encourage our talented people to remain in or return to Northern Ireland.

“Along with the increased salaries, the firm offers a wide range of benefits from market leading health cover and mental health support to our maternity and family policies such as our new Global Family Leave Policy, which allows new parents to take up to 16 weeks fully paid leave.

“There is a wealth of talent in Northern Ireland and we are committed to encouraging as much growth and opportunity here as we can.”

Over the past three years Pinsent Masons achieved a target of 45 per cent of its legal director and partner promotion candidates being women (more than half of the partners and legal directors in the Belfast office are female).

Membership of the firm's diversity and inclusion (D&I) network groups reached 1,263 following the launch of new groups such as the Neurodiversity Network, and more than 70 per cent of the staff in Belfast are members of and active in at least one network group.

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