British law firm Taylor Wessing was another major firm to report record revenues.
The company grew 13% in the year to April 30, 2022 with a 27% increase in earnings per partner (PEP). Revenues amounted to £420.6m, demonstrating once again the strength of the legal market in the UK.
The company’s profit sharing scheme saw a 5% profit sharing based on salary levels, which was introduced by Taylor Wessing last year. These are accompanied by performance bonuses of up to 30%.
The company’s fee income rose 25% to £219m and profit rose 32% to £93m, following a decline in 2020 which the company said was related to technology and the side hires she had made.
“Our initial investments materialized in the last year of our three-year strategy, which is nice,” Shane Gleghorn, managing partner of Taylor Wessing, said of the increased revenue and profit. “Our core strengths in the technology and life sciences and healthcare sectors supported results, and we saw significant growth in the real estate and private wealth sectors.”
Much of the growth came from the technology deals the company entered into, including in life sciences and healthcare, as well as intellectual property work that contributed strongly to the growth.
TaylorWessing has pursued an aggressive growth strategy, with 29 global offices and 1,100 attorneys in 17 jurisdictions.
He has sought employment with other companies in other jurisdictions, including the UK and Ireland, and his financial performance puts him between Pinsent Masons, which increased revenue by 6% to £531million, and Osborne Clarke, which saw a 19% increase in revenue. to 407 million euros.