Pinsent Masons’ turnover grows 22% in Middle East
Pinsent Masons’ fee income turnover grew by 22% in the Middle East during the 2015/16 financial year, while the firm’s global revenue increased by 5.5% to $495m
Pinsent Masons’ fee income turnover grew by 22% in the Middle East during its 2015/16 financial year.
The UK-headquartered law firm’s Middle East practice groups witnessed year-on-year growth ranging from 9% to 46%.
At a global level, Pinsent Masons achieved turnover of $495m (GBP382.3m), representing a revenue increase of 5.5% compared to the 2014/15 financial year.
The firm’s advanced manufacturing and technology, financial services, and infrastructure sectors contributed approximately 20% to global turnover, while its energy and real estate sectors accounted for around 12% each.
Commenting on the company’s regional performance, and its new UAE office, Sachin Kerur, head of Pinsent Masons’ Middle East region, said: “We have had a good year in the Middle East and the more challenging economic conditions have not deterred us.
“Our new office in [Dubai’s One Central], is a strong statement of intent, showing that we continue to see plenty of opportunity to gain a greater share of these markets. I look forward to welcoming our clients to our new home, and to continue serving them with the same rigour and professionalism which they have come to expect from our firm.”
John Cleland, managing partner at Pinsent Masons, added: “Our vision is to be recognised as an international market leader in the global sectors in which we operate, and this latest set of results demonstrates further progress.
“It is particularly pleasing that we have managed to sustain growth and profitability while making unprecedented levels of investment into our business. Our partners recognise that if we are serious about becoming international market leaders, we cannot stop investing.”
In addition to its positive financial results, Pinsent Masons noted that it has made a series of senior appointments across its global network. Recent hires include the firm’s inaugural external board member, Pauline Egan, and its first chief operating officer, Alastair Mitchell.
Pinsent Masons has also enlisted former British Secretary of State, Douglas Alexander, as a strategic adviser for its responsible business agenda.