Shutts & Bowen’s gross revenue rose by $4 million to $151 million in 2016, a 2.7 percent increase over 2015. The firm attributed the increase to work on significant acquisitions in the financial services sector, a real estate development rebound and growth in specialized areas.
The firm reported a net income of $66 million, which marked a 5.6 percent increase over 2015. The firm’s 87 equity partners saw profits per equity partner rise to $760,000, an increase of $20,000, or 2.7 percent, over 2015. The firm reported a profit margin of 44 percent.
