HFW maintains steady growth with focused strategy
23 May 2012
Holman Fenwick Willan has announced its results for the financial year ending 31 March 2012.
With an increase in revenue of 10% to £123.8m and profits remaining broadly at last year's levels, due to a number of investments made, the figures highlight the continued success of the firm's strategy of international expansion, whilst focusing on core industry sectors.
Internationally, the firm continues to perform well, with revenues generated from offices outside London remaining constant at approx. 45%. This reflects investments the firm has made in the business over the last year, including opening new offices in Perth, Australia and São Paulo, Brazil, the latter of which opened as part of the firm's recruitment of the former BLG Aerospace team in October 2011; and a number of other lateral hires in support of the firm's core sectors of focus, including in International Arbitration, World Trade, Natural Resources, Insurance (corporate) and Shipping. In addition to investments in offices and lateral hires, the firm has also made a significant investment in a new global practice management system, which will streamline and integrate client relationship management activities with billing and compliance systems.
Richard Crump, HFW's Senior Partner, said:
“In what remain difficult market conditions, we are pleased that our focused strategy of international development across core industry sectors enables us to continue to grow the business in support of client needs. This remains very much our strategy for the future."
Greg Gray, HFW's Managing Partner, commented:
“We have seen steady revenue growth over the last year. We have made a number of significant investments over the last twelve months, both in new offices and in the recruitment of lateral hire partners, in particular in the Aerospace sector, which we anticipate will result in further growth in the coming years.”
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