Record revenue boost takes RPC to a new high

Record revenue boost takes RPC to a new high

23 per cent revenue hike drives up the UK firm's PEP by 49.5 per cent to £634,000 in 2020-2021

Reynolds Porter Chamberlain (RPC), one of the Top 40 UK firms, has joined the list of law firms to announce a rise in revenue and PEP in this year's bumper financial results.

Beating the pandemic blues that hit firms across all sectors globally, RPC declared that its total revenue for the financial year 2020-2021 (FY21) was £136 million across its offices in London, Bristol, Singapore and Hong Kong.

This marks an impressive increase of 23 per cent on FY20 (£110.1 million) and 26 per cent on FY19 (£108 million). The firm's net profit margin rose by 34.8 per cent, which is an increase of 6 per cent on FY20 (28.8 per cent), while PEP jumped to £634,000, registering a massive increase of 49.5 per cent on FY20 which stood at £424,000.

"The results reflect just how unbelievably hard our people have worked over this past year, and in especially challenging circumstances for many of us and our clients," Managing partner James Miller said.

RPC, which claimed that it had avoided making redundant any employees over the course of the pandemic and did not require Government support, saw a rise in revenue across all its offices. The firm credited the strength of its core areas, including commercial and financial markets disputes, retail, insurance, regulatory and technology and media, for its continued growth.

"The numbers speak to our high-performance culture, commitment to clients and the quality of our people. While the news is undoubtedly very positive for our business, they are set against a backdrop of many people – and many businesses – experiencing a very challenging year; both professionally and personally," Miller added.

RPC displayed the tenacity to overcome the loss of several lawyers last year by hiring a commercial disputes team in Singapore from Bird & Bird last May and added Tom Purton, former head of the commercial, IP and technology department at Travers Smith, as a partner in January.

The firm had announced in May that it was expanding its insurance platform with the launch of Global Access Lawyers, an international network intended to give clients greater access to insurance law specialists across different markets.