TAMPA – Florida law firm Shutts & Bowen LLP reported another year of record growth in revenue and profits in 2016. Revenue increased to $151 million for the fiscal year, up from $147 million in 2015.
The firm’s net profit of $66 million jumped 6 percent from the previous record of $62.3 million set in 2015 and profits per equity partner rose to $760,000, up from $740,000.
Additionally, the firm benefitted from a rent abatement in its new Miami office, bringing total profits to $69.25 million, an increase of 11% from 2015, and profits per equity partner to $796,000, an increase of 7.6 percent from 2015.
“We had an excellent year in 2016 on a number of fronts,” Bowman Brown, Chairman of the firm’s Executive Committee Brown said. We continued upgrading our facilities (including relocating our Sarasota office), and we were honored by the Daily Business Review winning its annual Litigation Department of the Year Award for general litigation for a large department.
The firm is poised for excellent growth in 2017, Brown said, as the firm continues to develop and expand practice areas in health care, real estate, intellectual property, financial services, construction and commercial litigation, dispute resolution and international tax law.