International sales up at Eversheds
Investment in overseas operations has helped law firm Eversheds increase international sales by nearly a quarter (22 per cent).
The firm, which has an office in Birmingham, said overall revenues were up £11.5m (7 per cent) to £184.1m in the six months to 31 October 2011. The increase was accompanied by a £10m rise in net profit.
Over the first half of the year, Eversheds invested heavily in a merger in the Middle East, with offices in Abu Dhabi, Amman, Baghdad, Doha, Dubai and Riyadh.
It also established operations in Spain, Hamburg and Romania, leading to a 22 per cent boost in overseas sales.
Chief executive Bryan Hughes said: "All of our key indicators are positive, with activity and billings ahead of last year. Our strong revenue position has flown down to the margins, with a £10m increase in net profit margin.
"It goes without saying that market conditions remain interesting, in recent weeks changing almost by the hour. However, we have had a good half year which gives us a robust platform for the next six months."
In the first six months of the financial year, the firm's financial services litigation division increased sales 15 per cent while construction litigation grew 23 per cent and competition and real estate environmental were up 22 per cent and 27 per cent respectively.
