Clyde & Co income drives through £100m barrier

UK BASED law firm Clyde & Co has pushed past the £100m revenue barrier after seeing fee income climb by four per cent.

The City based law firm saw 2009 revenue climb to £192m from £85m, while profits per equity partner (PEP) rose by 10 per cent to £605,000.

Peter Hasson, chief executive said: “The figures bear out our strategy of combining broad geographic growth with a depth of expertise in the practice areas in which we focus.”

Clydes, which traditionally focuses on the insurance industry, said although pressure from clients continues on pricing, the results were boosted by a greater volume in work.

The results are relatively in line with Clyde’s peers, which have so far reported marginal rises in both revenue and profits. Income at rival Berwin Leighton Paisner rose by 6.1 per cent to £191m during the year, while the firm saw a return to profits after PEP reached £455,000.