- Medium-sized firms lead way on fee income, profits and PEP
Law firms with 11 to 25 partners are leading the way out of recession, with rising fee incomes, net profits and a 21% surge in profit per equity partner (PEP), research has found.
The annual benchmarking report for 2013 by MHA, a UK-wide...
- BLP confirms 40 per cent cut in profit for 2012/13
Berwin Leighton Paisner (BLP) has unveiled its 2012/13 profit figures, revealing a 39 per cent drop in average profit per equity partner (PEP) and a 38 per cent drop in net profit.
In what has amounted to one of the worst-kept secrets in...
- Davenport Lyons to review pay structure as partners vote on LLP conversion
Davenport Lyons has become the latest UK firm to agree to convert to limited liability partnership (LLP) status, with the firm likely to move towards a more commission-based remuneration system once the change takes place.
- UK top 20 squeeze equity ranks as PEP pressure drives prudence
News Article - 09/09/2013 : Allen & Overy, ashurst, clifford chance, cms cameron mckenna, dac beachcroft, equity partners, Irwin Mitchell, linklaters, magic circle, pep, slaughter and may, top 20, Finance, Practice Management
The proportion of equity partners across the UK top 20 is continuing to shrink as law firms tighten their grip on the equity amid ongoing pressure on profits.
The UK's 20 largest law firms by revenue have seen the overall proportion of...
- Profitability plummets at growing number of UK firms
Average profit per equity partner (PEP) has fallen at nearly half of the UK200 firms to have provided figures for 2012/13 so far, The Lawyer research has revealed.
Of the 86 firms that have provided PEP figures for both the...
- Financial highs and lows
How do you get up from an all time low, asked English-Irish pop combo The Wanted in 2010. Perhaps the boy band were belting out the words with the legal market in mind, given that we’ve seen a number of all-time lows and highs in...
- Berwin Leighton Paisner reports revenue slump of £13m to £233m
Berwin Leighton Paisner’s (BLP) revenue has fallen 5% from £246m to £233m at the end of 2012/13.
Turnover at BLP was up 10% in 2011/12 to £246m from £229m the previous year. However...
- PEP at Mishcon returns to pre-recession levels to hit £840k
Mishcon de Reya has recorded average profit per equity partner (PEP) of £840,000 for the 2012/13 financial year, an increase of 20 per cent on last year’s figure of £700,000.
The results bring three-year profit growth to...
- Ward Hadaway revenues rise by 10%
Northern firm Ward Hadaway has reported a 10% rise in turnover and 14% increase in average PEP for the 2012/13 financial year.
The firm said turnover had risen from £30m in 2011/12 to £33m in 2012/13,...
- HFW turnover rises 14% to £141m
Holman Fenwick Willan has posted a 13.8% increase in its 2012/13 turnover to £141m from £123.9m in 2011/12.
HFW’s net profit also jumped by 17% to £38m from £32.4m in the previous year....
- Riding the perfect storm
John Mullins, former COO and CFO of Herbert Smith Freehills, explores the challenges ahead for law firms and how a new take on financial management could be the key to winning through
"If only we were in...
- Global turnover and PEP nudge up at Latham & Watkins
Latham & Watkins has posted a 3.4 per cent rise in total turnover along with a 7.4 per cent increase in average profit per equity partner (PEP) for the 2012 financial year.
Turnover reached $2.23bn last year while PEP hit $2.44m, The...
- LG partners see profits drop 26% as revenues fall further
LG has posted a 26% drop in profits per equity partner (PEP) for 2011-12, with revenue also fallng for a second consecutive year.
The firm, one of the last major UK practices to announce its results for 2011-12, has seen PEP dip by...
- Speechly Bircham revenue drop shows impact of RBS loss
Speechly Bircham has posted a fall in revenue for the 2011-12 financial year, with total fee income down by 3 per cent from £59.5m to £57.6m.
Net profit also fell, from £14m to £11.3m, while average profit per equity partner...
- Travers posts 18% increase in turnover as PEP soars 24%
Travers Smith has reported one of the largest increases in profits per equity partner (PEP) in the UK top 50, with profits climbing 24% to £804,000.
The increase in 2011-12, up from £650,000 in 2010-11, takes PEP back to its...