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Pinsent Masons unveils FY20 results & reports on its transition to becoming a purpose-led business
Multinational firm Pinsent Masons has reported its FY20 results against four new headline benchmark metrics signalling a step change for the business following the launch of its refreshed strategy.
Tuesday 28 July 2020
"From a financial perspective, I would characterise FY20 as satisfactory given the disruption in a number of our markets; whether that be Brexit and political turmoil in the UK, protests in Hong Kong, US/China trade wars, US/Iran tensions impacting the Middle East or bushfires in Australia," Cleland commented.
"However, this is already ancient history. The year ahead will present challenges the like of which we have not seen before. Despite obvious headwinds brought about by Covid-19, we're encouraged by the momentum we've found going into the new financial year. Already we've closed a number of landmark matters including the sale of £14bn investment platform Ascentric by Royal London, securing planning permission on the UK's largest solar farm at Cleve Hill, and acting for Exasol AG on the first IPO in Germany of 2020. We firmly believe that if we continue to do business in the right way and for the right reasons, our business will come through this year strong, united and better than before."
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Strategic metric
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Progress and key stats
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Our colleagues trust us and advocate for us
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- A firmwide employee engagement survey found that the firm has an employee net promoter score of +35.
- Top five inclusive employer ranked by LGBT charity Stonewall in its Workplace Equality Index
- Launch of the firm's Spark Board - a body comprised of junior members of the firm’s fee earning and business operations teams that works alongside the firm’s global board aimed at providing diversity of thought at a strategic level
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Our clients trust us and advocate for us
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Interviews of 367 clients during 2019 carried out by independent research company Acuigen found that:
- 94% of clients would recommend the firm.
- 92% of clients 'extremely' or 'very satisfied' with the standards of service
- 92% of clients 'extremely' or 'very satisfied' with the quality of advice
- 96% of clients impressed by the commerciality of the firm's approach.
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Our business works better for the communities within which we operate
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- 30% reduction in energy consumption across the UK network since 2014 – beating 2020 target of 20%. The firm reduced energy consumption per occupied square foot by 12%
- Transitioned to acquire 100% renewable electricity for all UK offices
- Through its commitment to Inspiring Young Lives and long-term partnerships with charities, schools and volunteering programmes, the firm has helped to make a difference to over 28,000 children and young people in FY20.
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Purpose-led business growth
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- Revenue: £495.9m, an increase of 4% this year.
- Profit per equity partner: £546k
- The firm strengthened its position as a professional services business with law at the core with the acquisition of freelance legal services business Xenia and legal services business Xenion and launched its D&I consultancy Brook Graham in Asia Pacific.
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Tuesday 28 July 2020
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