But a successful consolidation has seen turnover tick up towards # 50 million and
profit per equity partner rise by to over half a million pounds.
And average
profits per equity partner rose 4.9 %, to nearly $ 1.6 m (# 1.2 m).
DLA Piper has posted a double digit increase in net profit to a record high of $ 667m (# 404m), while average
profits per equity partner rose 12.5 % to $ 1.49 m (# 903,000), also a record high.
Profits rose on average by 8 %, and median
profit per equity partner rose # 20,000 on last year's report to # 107,000.
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.
The happy internal mood corresponds with robust recent financial performance;
profit per equity partner rose by 14 % to # 625,000 this year and overall revenue went up 11 % to # 423 million.
The firm saw its gross revenue drop 3.5 percent to $ 422.5 million last year, while
profits per equity partner rose 5.2 percent to $ 705,000, according to reporting by The American Lawyer.
Not exact matches
Profit per equity partner (PEP)
rose by 63.8 % at legacy Lawrence Graham in the firm's 2013 - 14 financial results, prior to the merger with Wragges & Co which went live on 1 May this year.
Profits per equity partner (PEP)
rose 7.1 % to $ 4.38 m (# 3.53 m), while revenue
per lawyer
rose 13.4 % to $ 1.27 m (# 1.02 m).
White & Case and King & Spalding have both reported a
rise in
profit per equity partner (PEP) as K&L Gates reported a slight dip.
Profit per equity partner tops # 760,000 on back of 8 %
rise in UK turnover following strong 12 - month performance at City firm
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.
Profit per equity partner (PEP)
rose by 63.8 % at legacy Lawrence Graham in the firm's 2013 - 14 financial year, prior to the merger with Wragge & Co which went live on 1 May this year.
Watson Farley & Williams and Holman Fenwick Willian have posted
rising profit per equity partner (PEP) figures for 2016 - 17, while insurance rival Kennedys has seen PEP dip after a sustained period of international expansion.
Kirkland & Ellis had a 2016 to remember, with revenue
rising 15 % to $ 2.65 bn (# 2.12 bn) and
profit per equity partner (PEP) passing the $ 4m mark.
Linklaters has become the first magic circle firm to announce its 2016 - 17 results, posting a 7.8 % hike in
profits per equity partner (PEP) alongside a revenue
rise of almost 10 %.
It reached turnover of # 1.303 bn for 2011 - 12, and saw
profit per equity partner (PEP)
rise 7 % to # 1.078 m.
Herbert Smith Freehills (HSF) has announced a 2.5 % drop in
profit per equity partner (PEP) for 2016 - 17, alongside a 10.6 %
rise in revenue.
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.
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.
Revenue jumped almost 9 % in 2016 to $ 1.27 bn (# 1.03 bn), and
profit per equity partner (PEP)
rose more than 22 % to $ 3.1 m (# 2.5 m).
Turnover at Hogan Lovells International, which encompasses all of the firm's operations outside of the US,
rose 8 % last year, while
profit per equity partner (PEP) jumped 25 %, the firm's limited liability partnership accounts have shown.
Braithwaite has overseen a solid period of growth during his ten - year tenure as managing
partner with the firm recording a 14 %
rise in average
profits per equity partner last year to hit # 366,000, with the firm's fee income standing at # 56m.
Linklaters grew its revenue to # 1.31 bn in the last financial year as
profit per equity partner (PEP)
rose to # 1.45 m.
Allen & Overy (A&O) has posted double - digit growth across all key metrics after a standout year in which revenue and
profit per equity partner (PEP)
rose to record levels.
The UK Law Firm of the Year award, sponsored by Lamb & Brandformula, went to Shoosmiths after a hugely successful 2014 - 15 financial year in which the firm recorded an impressive 44 % hike in
profits per equity partner alongside a solid revenue
rise of 10 %.
Average
profits per equity partner (PEP) at the northeast firm hit # 366,000, a 14 %
rise on last year's mark of # 321,000.
Reed Smith has posted a 7 %
rise in global revenue for 2014, while average
profits per equity partner (PEP) have increased by 6 %.
Cooley sees revenue climb 19 % as Mayer Brown posts 7 %
rise to $ 1.2 bn, with
profit per equity partner increasing 13 % to $ 1.44 m
Despite this continued drop in income, average
profits per equity partner (PEP)
rose slightly in 2010, climbing to $ 2.4 m (# 1.5 m).
Herbert Smith Freehills (HSF) has posted an 8 %
rise in
profit per equity partner (PEP) in 2014 - 15 as its revenue also increased.
Braithwaite has overseen a solid period of growth during his tenure as managing
partner with the firm recording a 14 %
rise in average
profits per equity partner last year to hit # 366,000, with the firm's fee income standing at # 56m.
In the year to 30 April, Gowling WLG's UK arm saw revenues increase by 2 % to # 184.7 m. Average
profit per equity partner has also
risen by 2 %, to # 379,000.
The firm posted a 2.2 % increase fee income to reach # 94m for the 2010 - 11 financial year, while
profits per equity partner (PEP)
rose 7 % to # 510,000.
DAC Beachcroft has posted
rising turnover and profitability for the 2016 - 17 financial year, with
profit per equity partner (PEP)
rising to a new record high.
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.
Eversheds has announced a 6.5 %
rise in revenue in the 2015 - 16 financial year as the firm's
profit per equity partner (PEP) remained broadly static.
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.
Simmons & Simmons has posted a 10 % drop in
profit per equity partner (PEP) for the 2015 - 16 financial year to # 585,000, as the firms costs
rose «significantly».
Tarbert is leaving A&O after a strong 2016 - 17 for the magic circle firm, which this July posted a 26 % increase in
profit per equity partner to # 1.51 m, while revenue
rose 16 % to # 1.52 bn.
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 %.
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.
Profit per equity partner is up for a second consecutive year, jumping by 11 % to # 503,000, while revenue has
risen 6 % to # 273.8 million.
Trowers & Hamlins has announced a double - digit
rise in turnover against a modest increase in
profit per equity partner (PEP) for 2016 - 17.
Profit per equity partner (PEP) at Dentons» UK, Middle East and Africa (UKMEA) limited liability partnership
rose 6 % in 2015 - 16, the firm announced today.
Profit is distributed to equity partners (EP) in proportion with their share of the equity points (Points), giving rise to an average profit per point, PPEP (if the denominator is the number of EPs, rather than points on issue, then PPEP refers to the average profit pe
Profit is distributed to
equity partners (EP) in proportion with their share of the
equity points (Points), giving
rise to an average
profit per point, PPEP (if the denominator is the number of EPs, rather than points on issue, then PPEP refers to the average profit pe
profit per point, PPEP (if the denominator is the number of EPs, rather than points on issue, then PPEP refers to the average
profit pe
profit per EP).