City firm Holman Fenwick Willan (HFW) has reported a 12% rise in profits on the back of a 25% increase in revenue over a two-year period.
The firm said revenue for the year-ending April 30, 2018 was up 8% to £179.1 million, while net profit was £47.5 million, up from £42.2m. It put the result down to strong performances in international offices with nearly 60% of overall revenue coming from outside the UK. Profit per equity partner was up 2% at £542,000.
According to the firm, at six of its 19 international offices (Geneva, Houston, Beirut, Perth, Riyadh and Sydney) revenue increased by more than 20%. In the Shanghai and Kuwait offices there was a 15% increase.
Marcus Bowman, managing partner, said: ‘We are very pleased to have once again achieved growth across every region and each of our six global industry groups: aerospace, commodities, construction, energy, insurance and shipping.’
The firm said it has completed seven international mergers and associations since January 2016, including a transatlantic merger. The firm’s tie-up wuth Legge Farrow Kimmitt McGrath & Brown went live in January 2017.