Firm ‘on track’ to claim top revenue spot for ‘18
Despite being just a week into 2018, one law firm is confident that it will supersede the competition and achieve significant revenue results in the year ahead.
MinterEllison has claimed that it's "on track to be [the] number one Australian law firm by revenue" in 2018.
This comes after the firm released its annual report for the 2016-17 financial year, revealing increased revenues – $476 million in FY17 up from $456 million in FY16.
In addition, MinterEllison completed 14 partner hires, 108 senior appointments, noting that 60 per cent of these were female appointments. Furthermore, the firm recorded graduate acceptances of 76 per cent and having acted for 72 per cent of the ASX 50.
Based on the firm's performance to date, MinterEllison chief executive Tony Harrington said he is "extremely confident the firm will see revenue growth in excess of 10 per cent for FY18", marking the first time that revenues will exceed $500 million in the firm's history.
"We have had a record year in all lines of business across our firm. Of particular note is our strong position in the deals sector where we are firmly ranked number two in terms of the number of deals we have been involved in. This represents an increase of 17 per cent from FY16," Mr Harrington said.
"Our infrastructure and construction teams have also had a stellar year, as has our new consulting line of business, which is growing from strength to strength."
Mr Harrington added that a focus on delivering innovative solutions to clients has been a key to MinterEllison's success over the past year. In FY17 the firm invested in a new consulting arm with its acquisition of boutique technology consulting firm ITNewcom.
Speaking further about MinterEllison's success, Mr Harrington pointed to the strategy of "thinking beyond the law to create new and complementary service offerings".
"Our clients value our ability to offer end-to-end solutions designed to solve their complex problems," he said.
"Extending our capability beyond legal services into kindred disciplines is a significant strategic initiative. This strategy is bringing us closer to our clients, and to our ambition of being our client's best partner."