International technology, media and telecoms law firm Olswang closes the books on its most successful year in a decade, as it reports a 17% growth in revenues to £108.1m (2010/11: £92.6m) and a profit increase of more than 30% over its previous year's results.
A dynamic international strategy alongside an unparalleled sector focus has made Olswang the fastest growing TMT law firm in Europe. With offices in Berlin, Brussels, London, Reading, Madrid, Munich, Paris and most recently Singapore, Olswang's growth has come from its sector focus, and the hard work and commitment of a strong international team.
Whilst final financials are subject to verification and audit, the firm anticipates seeing its PEP being around £530,000. With a total of eleven new partner hires, and eight partner promotions throughout the year, strategic recruitment has been crucial to the firm's success.
Olswang CEO David Stewart comments:
"We're delighted to be announcing such a strong performance in what has been a challenging year for the legal market. Our international expansion and sector focus have and continue to be at the heart of our strategy. This has led to a pleasing increase in the volume of instructions we've received from new and existing TMT and real estate clients consolidating our market presence in Europe, something we're already replicating in Asia. I am proud of the Olswang team across our network. Our partners and staff have worked tremendously hard to deliver this result. Ultimately though it is our clients who have enabled our success and the firm is deeply grateful to them for their loyalty and trust."
International revenues contributed 20% of total turnover and the newly formed Singapore hub has exceeded budget expectations. After having been officially launched in February this year, the Singapore office counts Tune Hotels, euNetworks, Tony Fernandes, Visa, Tata, Telstra, PayPal and Microsoft amongst its clients in the region. Alongside an impressive list of matters and client wins Olswang's insight, innovation and influence saw the firm land two of the most prestigious panel appointments of the year with BP and Vodafone.
Moving into 2012/2013 the firm will continue to integrate its operations to deliver a cost conscious and seamless service for clients around the world with our unique blend of commerciality and deep industry knowledge.
For more information or to set up an interview please contact:
Media & Communications Manager
020 7067 3009
Media & Communications Officer
020 7067 3069
Notes to editors
Olswang LLP is one of Europe's leading law firms in the areas of technology, media, telecommunications and real estate. The firm comprises of nearly 700 people including 100 partners, across seven European offices. Olswang is part of a 'best friends' network of leading independent law firms throughout the world.
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