Multinational law firm Pinsent Masons has announced that turnover hit £503.3m in its FY21 results, breaking through the half a billion barrier for the first time following nine consecutive years of growth, and 19% growth over a five year period.
The law firm also revealed that profit per equity partner rose by 16% to £636,000.
Over the period, the firm launched an Equality Law offering to support clients in their “belonging and inclusion journey”.
The group also launched in the Netherlands, taking its multinational presence to 26 offices over four continents.
In addition, interviews of 294 clients during 2020 carried out by independent research company Acuigen found that:
- 94% of clients would recommend the firm
- 90% of clients ‘extremely’ or ‘very satisfied’ with the standards of service
- 93% of clients ‘extremely’ or ‘very satisfied’ with the quality of advice
- 95% of clients found us easy to work with
The firm was also ranked top of the TR Law Firm Brand Index. Following the launch of a refreshed reporting regime in 2020, the firm now uses four key metrics to assess its performance for clients, colleagues, and the community, and measure its impact as a purpose-led organisation.
Richard Foley, senior partner at Pinsent Masons, said: “For us, success is to fulfil a purpose, and our purpose is to make business work better for people. If we get that right then financial success will follow, as we saw when we broke through the five hundred million pound revenue mark this year. But financial improvements are a product of a successful business, not the measure of it.
“We assess ourselves against metrics that represent what is truly meaningful to our stakeholders and that help us to focus on bettering ourselves as a purpose-led organisation. During a particularly challenging year we’ve continued to focus on and measure ourselves against these metrics and we will continue to do so as we strive to improve against them going forward.”
John Cleland, managing partner at Pinsent Masons, added: “We have supported our clients on some standout matters this year.
“By way of example, these include advising Tesla on Australia’s first virtual power plant to provide cheaper, cleaner power to South Australia; advising Resonance on the launch of a series of impact investment funds including the Women in Safe Homes fund; GNA Biosolutions on the development of a rapid Covid-19 test in Germany and the UK Government on its purchase of an additional 60 million doses of the Pfizer BioNTech Covid-19 vaccine.”