Garrigues revenues up 3.1% in 2016 with billings of €349.4 million
Revenues from the international area have risen 19.8%, with an 81.4% increase in the Latin American market
Law firm Garrigues posted revenues in 2016 of €349.4 million, up 3.1% on the previous year, confirming the firm’s good performance in recent years. Improvement was seen in all business areas in which Garrigues is present, consolidating the firm’s leading position in Spain in terms of revenues in the legal services and business law sector.
Garrigues’ international expansion has been one of the key factors underpinning these results. In addition to its office network in Spain, the firm is present in 12 foreign markets, in which the overall increase in revenues was 19.8%. Last year, Garrigues billed €41.3 million euros in the international area, half of which in Latin America, where it has seen an 81.4% surge in revenues.
The performance in results from the other side of the Atlantic confirms the firm’s strategy of growth through own offices integrated in the region. Garrigues is already present in five markets (Colombia, Brazil, Chile, Mexico and Peru) and has a team of 130 professionals, 29 of whom are partners. The latest top-level hires in each of these countries have rounded off the first stage of this venture, embarked upon barely three years ago. In the medium term, the firm has not ruled out opening offices in other markets, with a view to becoming the firm of choice in Latin America for business law.
In addition to international expansion, one of Garrigues’ other major challenges at present is technological innovation and robotization applied to law firm management. After several months of testing, an automated document management platform called [email protected] has just been rolled out throughout the Garrigues network, which will help expedite and facilitate the work of the firm’s professionals. This is the first time an initiative of this kind has been launched by a law firm using a tool in Spanish that can be applied to all practice areas.
This ongoing concern for technological innovation has led Garrigues to use other state-of-the-art robotization tools, which have been implemented by some of the major international firms, for both internal management and the improvement of services and client relations.