European firm Fieldfisher has announced a 17 per cent increase in annual revenue to £242m for the year 2018-2019. This is its third consecutive year of double digit growth with total revenue increasing by 137% over five years.

Organic growth

The firm say this year's rise was down to organic growth, lateral partner hires and new offices in Barcelona, Frankfurt, Guangzhou, Luxembourg and Madrid. The average profit per equity partner (PEP) increased by 7 percent to £805,000, rising by 94 percent since 2013-2014. Stand out jurisdictions included Germany where revenue increased by 48 percent, while China revenue increased by 31 percent. Financial Services was the best performing sector group with 14 percent growth to £31m, while the technology sector group consolidated its position with revenue climbing percent to £22m. Dispute Resolution was the largest practice, posting a record performance again. It continues to handle some of the biggest litigation and arbitration in the City. The Russia and CIS group also had another record-breaking year, growing to over 60 lawyers - 30 of which are Russian or Ukrainian speakers. The corporate practice was up 28 percent.

Challenging targets

Michael Chissick, managing partner, Fieldfisher, commented “We again set ourselves some challenging targets. We have worked even more closely with clients in our priority sectors to help them face their challenges and leverage opportunities successfully. This focus has greatly contributed to revenue ahead of budget and above market trend. I am especially pleased that investment in our new European offices is already making a big impact.” Mr Chissick added, “Our core international strategy is now complete and this year we are consolidating and also integrating our newest offices including Dublin which opened in May. We are incredibly optimistic about the future and all credit goes to everybody across the firm who has maintained their drive and focus."