Osborne Clarke reports 19% international revenue increase

By Stephen Emerson

16 June 2022

Share

The Business Magazine article image for: Osborne Clarke reports 19% international revenue increase

iStock

Reading-based legal practice Osborne Clarke achieved revenues of £350m for 2021/22.

The result represents a 19% per cent increase on 2020/21, where revenue totalled £295m, and a 66% increase over five years.

In the UK, Osborne Clarke's income increased by 20% to £199.1m, from £166.4m in 2020/21. The firm continued to strengthen its financial stability with increasing cash resources to £45.8m, up 12% on 2020/21.

In addition to revenue growth, UK net profit also increased by 14 per cent, from £67.9m in 2020/21, to £77.2m.

Omar Al-Nuaimi, Osborne Clarke's International CEO, said: "It's been a fantastic year and I'm so proud of the hard work and dedication of our teams. While market conditions have been favourable, our business strategy is driving stronger client relationships and delivering strong results. We have had a number of highlights during the last year.

"Our US platform continues to be key in helping us win and develop more global client relationships, while our new 30+-strong team in Poland has given additional scale to our European practice. Elsewhere we've grown aggressively through lateral hires, strengthened our international approach to ESG and we are investing in new technologies that will support our firm's ongoing digital transformation."

The firm's UK sectors performed well with strong income growth across real estate, financial services, technology, media and communications, life sciences and healthcare and transport and automotive, while the other sectors were broadly flat but against strong 2020/21 results.

Robert Wood, Osborne Clarke's Thames Valley Office Head, commented: "These impressive results are a testament to our people. To successfully and sustainably grow our business, we recognise the importance of investing in people. Our Thames Valley office recently welcomed two pension Partners and we look forward to further growing our team in the coming years."

By Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset.

Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users.

He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.