Law firm CMS revenues break €1bn mark, although notes the potential for Brexit has caused some uncertainty in its UK market

Hayley Kirton
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The firm also opened up an office in Iran earlier on this year (Source: Getty)

International law firm CMS revealed it had raced past a particular milestone today, brining in over €1bn in revenue, despite being slightly shaken by the possibility of a Brexit in its UK market.

The figures

Revenues for the firm increased to €1.01bn (£735.2m) in 2015, up 8.4 per cent on the prior year's €934.5m. Meanwhile, net profits had grown by 6.8 per cent.

Why it's interesting

CMS has proved recently that it's not afraid to push the boundaries, becoming the first major law firm to open an office in Iran in February.

It's also had a good year for M&A, scoring highly in several major industry rankings. Deals of note include advising CVC Capital Partners on its acquisition of PKP Energetyka for €477m and helping AMP Capital to snatch up a stake in Angel Trains.

Meanwhile, the firm also made up 32 people to partner across its network in its most recent round of promotions, bring the total number of partners at the firm worldwide to over 850.

What CMS said

"Last year, we achieved another set of excellent results," said Cornelius Brandi, executive chairman of CMS. "Our strong increase in revenue is a tangible indicator of our commitment to providing our clients with quality legal advice that has a positive impact on their business. Independently conducted surveys show that our clients are very satisfied with the service they receive from us."

Penelope Warne, senior partner of CMS UK, added: "Although Brexit has presented some challenges and uncertainty in the UK market, we have maintained a strong and successful business. We continue to prioritise our clients and are seeing growth across our core sector and practice groups. We are positive about the year ahead."

In short

CMS proves that he who dares wins, with notable deals now paying off with a boost to the business' bottom line.