Taylor Wessing over half-way to €1bn revenue target
Law firm Taylor Wessing has reported revenue of £481m (€562m), a global high for the firm. It also set out its plans to hit €1bn (£839.6m) in revenue.
The firm’s global numbers increased by 9.5 per cent to £480.7m, while its UK revenue grew by 8.6 per cent to a record £246.6m. Its profit rose by over 12 per cent to £91.7m, while its profit per equity partner (PEP) grew by 13.2 per cent.
Taylor Wessing has committed to an ambitious international growth strategy with the goal of becoming a leading global firm of choice in its core sectors with €1bn revenue firm by FY28/29, which is five years from now.
The firm operates a strategy that focused on core practices, including technology, media and communications, life sciences and healthcare private wealth, real estate, infrastructure and energy.
Its London team advised Inflexion and the senior management team of Xtrac on the sale of Xtrac to Middleground Capital. Another London team advised on the partial sale of Bristol Rovers Football Club.
In addition, over the last financial year, its strategic investments include 26 lateral hire partners worldwide, with a particular focus on corporate, disputes and investigations, as well as patents and innovations.
UK managing partner and global co-chair Shane Gleghorn said: “We are pleased to see strong growth across our offices, especially the progress in the UK and major European markets.”
He noted the firm’s growth was across its key practice areas, and noted the “incredible hard work and focus by our people to secure this strong outcome.” He added that “they are committed to achieving our ambitious objectives in the next three years”.