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.
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 %.
It reached turnover of # 1.303 bn for 2011 - 12, and
saw profit per equity partner (PEP) rise 7 % to # 1.078 m.
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.
Simmons & Simmons has
seen profit per equity partner (PEP) rebound by 9 % in 2016 - 17, after dropping by 10 % during the previous financial year.
Berrymans Lace Mawer has posted a 4 % increase in revenue for 2012 - 13 while
seeing profits per equity partner (PEP) dip by 13 %.
Nabarro has also been doing well financially, with revenues up again this year after a stonking 2015 which
saw profit per equity partner soar 21 %.
Nabarro, a firm which
saw its profit per equity partner (PEP) soar 21 % to # 586,000 in 2015, has revealed an autumn retention rate of 83 %.
Not exact matches
«We have
seen the arrival of the world's first # 1bn law firm, Clifford Chance, and Pinsent Mason's astonishing 71
per cent increase in
profits per equity partner (the all important benchmark for law firm performance).»
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.
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.
Withers
saw double digit increases in both turnover and
profits per equity partner (PEP) over the 12 - month period ending 30 June.
Dickinson Dees
saw average
profits per equity partner (PEP) drop by more than 10 % during 2007 - 08, the firm's limited liability partnership (LLP) accounts have revealed.
According to a report by the Georgetown Law Center for the Study of the Legal Profession, U.S. law firms
saw revenue and
profits per equity partner grow at staggering rates of 37.5 percent and 25.6 percent respectively.
Magic Circle law firm Clifford Chance LLP LLP
saw average
profits per equity partner drop 37 % to # 733,000 ($ 1.2 million) in the...
Weil Gotshal & Manges enjoyed a record year in 2017, with revenue reaching new heights,
profits per equity partner (PEP)
seeing double - digit growth and London turnover surging by 33 %.
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
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)
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.
Dewey & LeBoeuf
saw a dramatic drop in gross revenue in 2009 while
profits per equity partner moved up 3.4 percent, the result of a 10 percent decrease in
equity partner headcount, according to numbers released by the firm Friday.
Insurance and shipping firms have once again outpaced the UK top 50, with the firms
seeing both revenues and
profits per equity partner (PEP) increase by an average of 10.3 %.
Boston - based Goodwin Procter
saw its gross revenues grow 2.5 percent to $ 695.5 million last year, but a net loss of 13
equity partners helped push
profits per partner up 3.4 percent to $ 1.5 million, according to The American Lawyer's reporting.
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.
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.
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.
Weightmans has boosted
profit per equity partner (PEP) by 18.5 % as revenues hold steady, following a financial year that
saw failed merger talks with Newcastle - based Ward Hadaway.
Trowers & Hamlins has
seen a dip in
profits per equity partner (PEP) of 14 % over the last year on the back of a drop in revenues and net
profit.
Profit per equity partner (PEP) at Dentons» UK, Middle East and Africa limited liability partnership (LLP) jumped by 23 % in the 2014 - 15 financial year, according to figures
seen by Legal Week.