European deal volume helps lift revenue for law firm CMS in 2013

Oliver Smith
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LAW FIRM CMS yesterday reported a marginal revenue increase to €842.1m (£684m) during the year to 31 December, up slightly from the €837.7m it reported during the previous year.

CMS handled 344 mergers and acquisitions during 2013 and was ranked number one in such deal volume in Europe, Central and Eastern Europe, France and Germany.

The 0.5 per cent revenue increase joined a moderate profit increase of 3.3 per cent. However, the firm did not reveal the exact numerical figure.

“2013 was a particularly good year for CMS. Despite the global economic situation, we managed to increase our revenue and our profitability,” said CMS chairman Cornelius Brandi.

The firm said it added 31 new partners in 2013, including eight lateral hires, taking the total to over 800.

“All of these are constructive developments that show CMS as an attractive partnering option within the legal industry,” Brandi said on the results.