Revenue was up to £52.4 million (a 4% YOY increase), as was distributable profit for partners (+6%) and the wider non-partner bonus pool (+26%). As a result of one-off office costs relating to relocation to new headquarters at St Mary Axe in the City of London, statutory profit was slightly down.
Managing Partner Rob Bower said: “Working in partnership has never been more important, and we saw a tremendous effort by our teams coming together to make a success of what has been a difficult year.
“Our market sector-focussed approach is adding value, with more clients relying on specialist advice across multiple service lines to support their transactions, management, development decisions and planning activity. We are also seeing more of a balance between public and private sector in our fee income and demand for a wider range of support – from vision, strategy setting and advisory work to proactive, day-to-day activity.
“Having made long-term investment decisions about our people, space and tech, even in the height of the first lockdown, we were pleased to see a very strong return to the office in April and we are more convinced than ever about the direction the partnership is taking. There is still more to do, including delivering on our long-term NZC commitments and becoming a more sustainable, diverse and inclusive business, but the direction of travel is clear, and progress is one of the Board’s priorities.
“Looking forward, London is a major focus – not just as a driver of the global economy but its ability to lead the way as the country levels up. There is increasing appetite for strategic, early-stage advice to help respond to the impacts of Covid, and our investment in the past year puts us in a strong position for further growth. This is reflected in our current year revenue which, at the end of November, was 30% ahead of last year.”