Zamfirescu Racoti Predoiu
Bucharest, March 15, 2012 – In 2011, Zamfirescu Racoti Predoiu Attorneys at Law (ZRP) had a turnover of RON 19,184,235 (the equivalent of EUR 4,5 million, calculated at the average rate of exchange communicated by the National Bank of Romania for 2011), increasing by 35% as compared to the financial results from the previous fiscal year. The efficient management of resources, concretized in the maintaining of the expenses under the level of increase of the incomes, as effect of the continuous effort to optimize the firm’s efficiency, supported the significant advance of the law firm’s profit.
“Related to the average number of attorneys at law of the firm in 2011, the turnover is a clear indicator of the increase of the individual performance level, a natural consequence of the consolidation of the teams, of the strengthening of the professional discipline and of the motivation of the human resources, which our law firm considers essential for the achievement of its objectives. The financial results obtained rely on the work and efforts of an entire team”, Stan Tîrnoveanu, Managing Partner of Zamfirescu Racoti Predoiu, declared.
The increase of the turnover is part of the ascendant trend of the last years, following the firm’s development strategy, which targeted both the attracting of new clients and the securing of the existing client’s loyalty, by the expanding of the range of services offered and the launching of integrated service packages.
The factors that were at the basis of the increase of the incomes in 2011 were:
- the dispute projects, mainly the ones regarding the recovery of receivables and insolvency, which contributed by over 60% to the financial performance of the firm;
- significant development of the portfolio of projects in the consultancy field, mainly in the areas of practice Energy, Capital Market, Labor Law, Public Procurement, Banking Law;
- packages of integrated services in legal and fiscal consultancy and the offering of multidisciplinary solutions adapted to the clients’ needs;
- efficient management strategy oriented on durable development (maximization of profit on long term by the efficient use of the resources);
- professional performance of the associates and of the technical personnel.