Gowling WLG, which was established last year by the merger of major Canadian and British firms, reported £390.1m in turnover in the first full-year results of the combined firm.
The Canadian arm of the firm, made up of legacy Gowling Lafleur Henderson, contributed £200m to the revenue, Legal Week said
. The UK arm, made up of legacy Wragge Lawrence Graham & Co, contributed £190m.
The publication estimates that global profits per equity partner (PEP) at £290,000 for fiscal 2016-17.
According to The American Lawyer
, the UK arm reported £184.7m in revenue for fiscal 2015-16. PEP was at £379,000. Canadian law firms generally do not report financial performance.
“We were pleased to navigate the Brexit uncertainty last summer, staying close to our key clients and growing our UK business, with our international platform generating over 1,000 new clients and instructions we simply would not have won in the past,” said David Fennell, Gowling WLG’s UK chief.
Andrew Witts, Gowling WLG’s UK chair, said that the firm’s core businesses performed well.
Quentin Poole, the firm’s head of international projects, said when the merger went live that the firm is eyeing to complete two more mergers by 2020. The firm had recently hinted that they are looking at possible deals in China and Germany.