Clydes records 36% revenue growth after merger with BLG
Clyde & Co has posted a 36 per cent jump in revenue - the largest revenue increase of any top UK firm so far. The firm took in £287 million for 2011-12, up from £212m last year, following its merger with legacy Barlow Lyde & Gilbert in November 2011. Subtracting the contribution from BLG, Clydes alone recorded revenue growth of 17 per cent to £248 million.
The firm has not yet announced the average profit per equity partner, but it expects the figure to be around £550,000 - lower than last year’s figure of £605,000 - because of investment in the firm, including the launch of 10 new offices.
Chief Executive Peter Hasson said: "Despite continued volatility and challenges across the global economy, we have continued to achieve growth in both revenue and profits from our resolute focus on our core sectors backed by continual investment in the expansion of our international network."