07:17, June 13 479 0

2017-06-13 07:17:07
WFW turnover nears £160m mark in 2016/17 financials

Watson Farley & Williams (WFW) has announced its global turnover has risen to just shy of the £160m mark in another year of growth at the firm.

The firm’s turnover has been growing steadily over the years, rising 5 per cent in 2015/16.

The year before, the firm reported gains of 7 per cent after a jump of nearly 15 per cent in the 2013/14 financial year.

In the most recent results, WFW announced its revenue had jumped 20 per cent from £131.2m to £159.8m.

The growth surpasses the firm’s half-year performance, which put WFW on course for growth of nearly 14 per cent.

Co-managing partner Chris Lowe admitted the results were “influenced by currency exchange rates” but added the firm has seen substantial real growth across the business.

“This is a strong result for the firm, due in no small part to the significant investments we have made not only into high-profile practices complementary to our specialist sectors, but also in technology, infrastructure and business services.

Fellow co-managing partner Lothar Wegener added: “Last year also saw WFW advise on numerous headline deals in our core sectors of energy, transport and real estate, from renewables and oil & gas to maritime, aviation finance and hotels.

“This is thanks to our sector specialist approach which enables us to clearly distinguish ourselves in an ever more competitive global legal market”.

One of the largest transactions handled by WFW this year is acting for the lending banks in Shell’s bumper $3bn disposal of North Sea assets. Partner Joe Levin led on the deal.

WFW is yet to launch its most sought-after Chinese office, having vowed to open in the country since 2015. It also ended its Singapore joint venture last July, without any plans to enter into another JLV.

Instead WFW has been prioritising growth in the US, with chairman Frank Dunne relocating from London to New York to drive further growth.

Mishcon de Reya complex civil litigation and white collar defence head Joshua Sohn also joined the firm in the US last summer.