TITLE

Osborne Clarke partners rejoice after war on costs wipes out £9m debt

AUTHOR(S)
O'Connor, Joanne
PUB. DATE
March 2005
SOURCE
Lawyer;3/28/2005, Vol. 19 Issue 12, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Osborne Clarke has wiped out almost £9 million in debt after two years of tight financial management. The Bristol-based firm was £8.8 million in debt at the end of the 2002-2003 financial year following a period of aggressive expansion and heavy investment in staff. However, a cost-cutting and financial management initiative headed by managing partner Simon Beswick has seen the firm accrue savings of more than £8 million. Beswick attributed the results to improved revenues, radical cuts to the firm's cost base.
ACCESSION #
17187751

 

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