International legal practice Osborne Clarke, which has its roots in Bristol, has increased annual revenues by 12% to €245.1m (£190.2m).
The firm, which employs more than 400 people at its Temple Quay base, increased UK revenues by 7% from £112.9m in 2015/16 to £121m in 2016/17 while cash resources rose by 29% to £33.4m against £25.8m in 2015/16. Osborne Clarke’s sector teams account for more than 95% of UK revenues.
Non-UK revenue now accounts for 42% of total revenue. 
Osborne Clarke said investment had been a key priority during the year and it had funded many firm-wide initiatives, including service innovation projects to create bespoke cloud-based platforms that improve service delivery for a growing number of its clients.
Osborne Clarke also continued to invest in recruitment and development to support its sector-focused approach, and this year appointed 29 partners across Europe and Asia - 31% of them female. The UK and Germany also made six partner promotions.
UK managing partner Ray Berg said: “We have an exceptionally well-run business with a clear strategy and many growth clients. These results reflect the high levels of dedication and commitment across our entire business and emphasise what a great team we have.”
The international business represents clients ranging from market leaders to fast-growth companies including Yahoo, Facebook, CBRE Global Investors, Vodafone, Siemens, Grifols, Foresight Energy and GoPro. Osborne Clarke recently joined the panels for Deutsche Bank and BT.
“Our sector-first approach is working very well for us and we plan to build on our success over the coming years. Clients appreciate that we understand the challenges and opportunities they face in a fast-evolving digital world; it makes us more engaging lawyers and advisors,” added Mr Berg.
During the year the firm continued to target new international markets. It entered mainland China with new Shanghai-based firm Zhang Yu & Partners and launched a formal association with new Singapore-based firm OC Queen Street.
Both strategic investments form part of the firm’s expansion plans in Asia which also includes an association with Koh Vass & Co in Hong Kong and a close working relationship with BTG Legal in India.
Osborne Clarke International CEO Simon Beswick added: “Our expansion in Europe and Asia is driven by our vision to create a credible and highly sector-focused offering to help our clients succeed in tomorrow’s world. Our new capacity in mainland China means we can now support our clients in each of the key business centres in Asia and it reflects our commitment to the region.”
Head of its Bristol office Peter Clough, pictured, said: “This year’s results reflect a continuation of the approach which has worked so well for us in recent years.
“This involves sharpening our sector focus, which in this part of the world means areas like technology, real estate, energy, financial services and aerospace, and strengthening our international organisation.
“We also strive to create a happy working environment and make tangible investment in our people – four new partners have recently been appointed in the Bristol office in the shape of Helen Parsonage, Simon Jones, David Shakesby and Marc Shrimpling, with Douglas Peden bring promoted to legal director.”
