Taylor Wessing posts modest UK revenue growth as firmwide figures rise faster

Taylor Wessing has posted a modest UK revenue rise of 1.8% for the 2016-17 financial year.

UK revenues inched up to £128.9m for the 12-month period, while the firm fared better on a global scale, with overall revenues up 6% from £254.4m to £269.8m.

Last year the firm posted a 4.4% increase in UK revenues, while UK profit per equity partner (PEP) slightly increased to £770,000.

UK managing partner Tim Eyles (pictured) said: “It has been an exciting year for us and for the sector as a whole; the pace of change is electric. Last year was our best ever, so this year’s result, while less of a headline grabber, is still strong.”

In a statement, the firm highlighted its international expansion during the past 12 months, including entering Vietnam through a merger between RHTLaw Taylor Wessing and PBC Partners, and launching in Hong Kong via an association between a newly established branch of Taylor Wessing and local firm HM Chan & Co.

Eyles added: “Our priority remains preparing for the challenges and opportunities of the next decade. Investment in our people is central to our strategy and ongoing success. Ultimately, it’s a connection with great people that our clients care about. But we also need to be in their markets delivering an efficient service, so strengthening our international capability and investing in technology remain at the heart of our strategy too.”

In October last year, Taylor Wessing became the first law firm to roll out the use of new video game test Cosmic Cadet for its trainee applicants. The game tests 13 character traits including interpersonal style, social confidence and performance under pressure.

The firm made up 10 partners globally in its latest promotion round, including one in its City base.