In 2008, though firm lawyers logged thousands of hours in hectic bail - out related work, especially in the last quarter, the firm's revenue was flat and average profits
per equity partner fell 17 percent.
Berwin Leighton Paisner had a seven percent gross revenue increase last year but profits
per equity partner fell by eight percent.
White & Case saw its gross revenue rise about 4 percent to $ 1.33 billion in 2011, while the firm's profits
per equity partner fell about 5 percent to $ 1.475 million, according to reporting by The American Lawyer.
Addleshaw Goddard's profit
per equity partner fell to # 511,000 in 2016 - 17 — a 25 % drop on the # 682,000 recorded the previous year.
Small law firms saw profits
per equity partner fall 24 % as the recession hit, according to the Law Society Law Management Section's annual profitability survey.
Not exact matches
Dundas & Wilson has reported significant
fall key financial metrics with turnover down 11 %, net profit down 21 % and profits
per equity partner plunging 22 %.
Stephenson Harwood's average profit
per equity partner (PEP)
fell 8.5 % to # 708,000 in 2016 - 17, with the dip coming against an 11 % rise in revenue to # 176m.
Macfarlanes this week (24 June) reported that, while turnover jumped by 4.5 % to a new high of # 110m, its profits remained almost static,
falling slightly from average profits
per equity partner (PEP) of # 1.125 m last year to # 1.1 m.
Even opponents to using profit
per equity partner (PEP) as a measure of law firm success would struggle to contend that a firm posting a 19 % year - on - year
fall in profit was in anything other than a challenging position.
Two thirds of firms in the UK top 50 have seen profits
per equity partner (PEP)
fall over the past five years, according to research compiled by Legal Week.
Lawrence Graham has posted a 7 %
fall in revenue for the 2012 - 13 financial year, while profits
per equity partner (PEP) dropped 14 %.
Mayer Brown saw revenue inch up 0.2 % last year to reach a new high of $ 1.26 bn (# 1.03 bn), while profit
per equity partner (PEP)
fell 7.1 % to $ 1.45 m (# 1.19 m)
Macfarlanes has posted a 16.7 %
fall in profit
per equity partner (PEP) in the last financial year as net profit for the firm
fell 8.9 %.
Ashurst has announced an 11.5 % profit
per equity partner (PEP) hike to # 672,000 for 2016 - 17, marking a rebound for the firm after a difficult 2015 - 16 when PEP plummeted by almost 20 % and revenue
fell 10 %.
The City firm took in fee income of # 57.5 m for the last financial year, broadly in line with the 2011 - 12 figure of # 57.6 m, while profits
per equity partner (PEP)
fell 3 % from # 303,000 to # 293,000.
Profits
per equity partner (PPEP) goes up,
partner headcount goes down, median
partner income
falls, the ratio of
partners making as much as PPEP
falls.
Clyde & Co, Holman Fenwick Willan, Kennedys, Watson Farley & Williams, Ince & Co and Berrymans Lace Mawer all saw profits
per equity partner (PEP)
fall by between 2 % and 15 % during 2011 - 12, against an average increase in turnover of 12.6 %.
Revenue at the national player dropped to # 104m from # 107m, a 3 % decrease, while profit
per equity partner also
fell to # 275,000, down 3 % from last year's reported figure of # 284,000.
Ashurst has posted
falling revenue and profit
per equity partner (PEP) for the second year running, with PEP
falling to an 11 - year low.
Profits
per equity partner dropped 21 percent from $ 2.27 million to $ 1.8 million while revenues
fell 4 percent from just over $ 2 billion to $ 1.9 billion.
Revenue
per lawyer (RPL) and profits
per equity partner (PPP)
fell only about 5 percent, due to cuts in the firm's lawyer ranks.
Wells Fargo's Jeffrey Grossman continues: «In past years, the high - profit firms — which the bank identifies as firms posting $ 2 million in profit
per equity partner or higher — have mostly bucked the wider trend of
falling hours that has plagued their less - profitable peers.