The importance of leading the local market on trainee and junior lawyer salaries will have to be balanced with the fact that Burges Salmon has been feeling a bit more pressure of late amid a small decline in revenue from # 87.4 million to # 87 million and a 16 % drop in
profit per equity partner from # 523,000 to # 438,000 in what managing partner Peter Morris has described as a «challenging» financial year.
Not exact matches
Data
from Legal Week «s UK Top 50 and The American Lawyer «s Global 100 rankings shows that the 10 largest UK firms by revenue have increased
profit per equity partner (PEP) by an average of 15.7 % during the last five years, compared with 24.7 % across the 10 largest US firms.
Bond Dickinson's average
profit per equity partner (PEP) has dropped 4 %
from # 275,000 to # 265,000, as turnover remained flat at # 104m for 2016 - 17.
White & Case reported a 7 % rise in
profit per equity partner (PEP) in 2014 to $ 2m (# 1.3 m), up
from $ 1.87 m (# 1.14 m) in 2013.
Amid mixed results
from top 50 rivals, RPC was a standout performer, posting a 7.5 % increase in
profits per equity partner (PEP) and a 21.8 % hike in turnover, pushing it up seven places in the rankings to 42nd place.
The firm saw revenue climb 2.3 % to # 1.31 bn
from last year's figure of # 1.28 bn, while average
profit per equity partner (PEP) remained stable at # 1.21 m.
The 2018 Am Law 100, which looks at numbers
from 2017, reports that gross revenue grew 5.5 percent on average, net income increased by 6.1 percent,
profit per equity partner grew by 6.3 percent, revenue
per lawyer moved up 3.2 percent, and headcount rose 2.2 percent.
While revenue dipped, average
profit per equity partner (PEP) grew by 4 % during the same period, to # 683,000
from # 659,000.
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.
Meanwhile, average
profits per equity partner dropped slightly by 1 % to # 300,000, down
from # 303,000 in 2006 - 07.
Nabarro, which expects
profits per equity partner (PEP) rise 10.5 % to # 475,000, posted broadly flat turnover, up 0.3 %
from 2012 - 13 to # 116.7 m.
The firm said that in the year to 30 June 2015
profit per equity partner also increased, to # 935,000, up 6 %
from # 882,000 the previous year.
Maclays also demonstrated further growth in its 2006 - 07 results with average
profits per equity partner breaking the # 300k barrier, rising by 15 %
from # 275,000 last year to # 315,000 this year, while Brodies announced a turnover rise of 43 % to # 30m and gross
profits up 33 % to # 11.6 m.
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.
But revenue
per lawyer dropped by 1.64 percent,
from $ 1,034,287 to $ 1,017,372, while
profits per equity partner rose by 1.8 percent,
from $ 2,273,802 to $ 2,314,723.
Cleary: According to reporting by The American Lawyer, the firm's gross revenue surged to $ 1.125 billion
from $ 1.05 billion, while
profits per equity partner rose to $ 2.7 million
from $ 2.6 million last year.
Profit per equity partner now stands at # 366,000, up slightly
from last year.
Its
profits per equity partner, meanwhile, edged up to $ 2.66 million
from $ 2.64 million.
Lovells's revenues jumped 11 percent
from the previous year to # 531 million ($ 984.7 million);
profits per equity partner were # 585,000 ($ 1.08 million), representing an 11 percent decrease
from the previous year.
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.
Watson Farley & Williams has strengthened its London office with the addition of two
partners from US law firms, in the wake of a strong 2016 - 17 for the firm which is expected to result in
profit per equity partner (PEP) rising by at least 25 %.
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.
Here, management figures at some of the UK's top law firms discuss the key trends
from 2015 - 16, including consolidation, job cuts, artificial intelligence and
profit per equity partner (PEP)-- as well as the most pressing challenges for the year ahead.