Monthly Archives: November 2013

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Field Fisher Waterhouse Reports 7% Revenue Boost

Field Fisher Waterhouse (FFW), one of the UK’s largest international law firms, has reported that they have come in ahead of budget in their half year global revenue. The figure of £49.9 million exceeds expectations, and puts their revenue 7% higher than at this time last year. Their turnover for the equivalent part of 2012 was £46.8 million.

The City Office of the firm was a strong performer, achieving better results than it has seen in five years. Other major contributors to this success were the offices in Paris and Brussels, which both also achieved excellent figures.

The announcement of the figures took place at FFW’s annual partner conference. This was held outside the UK for the first time in order to demonstrate the firm’s impressive European expansion. The conference too place in Lille, France.

Michael Chissick, who has held the role of managing partner of FFW since February, was pleased with the figures. He attributed the firm’s strong performance to the fact that many practice areas within the firm saw high-billing periods. These include the corporate law section of the firm, as well as financial services and dispute resolution. By contrast, FFW’s real estate practice experienced a slow start to the financial year, but this was more than compensated for by the strong performance in other areas.

Of the recent promising figures, Chissick said: “We don’t want to count our chickens until they come home to roost, but partners are feeling confident and I’m pleased with our direction.” He also pointed out that the firm has a history of performing slightly better in the second six month period of a year than in the first.

Chissick went on to describe the figures, and the conference at which they were announced, as an example of the firm turning the corner. Several difficulties are still firmly in FFW’s recent memory. Not least among these is the fact that in May 2013, three franchising partners flew away from FFW to join Bird & Bird. FFW is also aware that it did not escape unscathed from the recent recession, and the last financial year the firm saw an overall drop in turnover of £2.5 million. 2012/2013 ended with a total figure of £95 million, compared to £97.5 million the year before. Set against this backdrop, the recent figures will surely come as a reassuring sign for the firm, its partners, and others with an interest in FFW.

FFW is also due to downsize its physical offices in the near future. This is expected to significantly reduce the business’ running costs, which also leads many to look positively towards the firm’s future.