Financial results 2020/21: Travers overcomes Covid blip as revenue spikes 15% and PEP surges 22%

Financial results 2020/21: Travers overcomes Covid blip as revenue spikes 15% and PEP surges 22%

The financial performance of Travers Smith has seen a dramatic double-digit bounce-back as turnover increased 15% to £185.7m and profit per equity partner soared 22% to £1.22m. The eye-catching PEP result came even as the number of full equity partners remained broadly flat at 57 compared with 56 last year. The provisional results for the …

Financials 2020/21: ‘Tremendous resilience’ from Freshfields yields 5% turnover and profit growth

Financials 2020/21: ‘Tremendous resilience’ from Freshfields yields 5% turnover and profit growth

Freshfields Bruckhaus Deringer has weathered the coronavirus crisis to report a 5% addition to its top line and profit per equity partner (PEP) respectively, a slight return to form after last year’s more subdued showing. The firm said today (30 July) that revenue increased to £1.59bn from last year’s £1.52bn as PEP hit £1.91m – a …

Financials 2020/21: Osborne Clarke shows spirit with 7% revenue growth and double-digit profit surge

Financials 2020/21: Osborne Clarke shows spirit with 7% revenue growth and double-digit profit surge

Osborne Clarke has rallied in the face of last year’s Covid-hindered financials to record a 7% international revenue increase to €341m as UK profit and profit per equity partner (PEP) saw double-digit elevations for 2020/21. The global revenue increase from last year’s €318m means turnover has grown a respectable 55% over five years. OC’s UK showing …

Financials 2020/21: ‘Fortunate’ Macfarlanes adds 10% to top line as 26-50 LB100 firms post mixed results

Financials 2020/21: ‘Fortunate’ Macfarlanes adds 10% to top line as 26-50 LB100 firms post mixed results

Firms ranked 26-50 in the Legal Business 100 – Macfarlanes, TLT and Watson Farley & Williams – have posted a mixed bag of financials for 2020/21. Macfarlanes has enjoyed its eleventh consecutive year of revenue growth amid a double-digit profit uptick and profit per equity partner figures that again bely fears of pandemic reversals. The robust 10% …

Comment: Value is critical but ESG intentions must check out in Morrisons take-private

Comment: Value is critical but ESG intentions must check out in Morrisons take-private

‘This level of scrutiny of governance is quite unusual. Historically in deals of this kind, no-one ever used to ask: “What’s going to happen to the workers?” It is becoming more and more of an issue as companies seek to avoid reputational damage.’ The words of Paul Watchman, ESG luminary, senior UN legal adviser and …

Dealwatch: Global 100 firms bank on €1.8bn Visa deal as payments, gaming and ESG charge the market

Dealwatch: Global 100 firms bank on €1.8bn Visa deal as payments, gaming and ESG charge the market

As Euro 2020 fever well and truly takes hold, the London deal team of Skadden has scored four times in recent days, not least advising Visa on its €1.8bn acquisition of European open banking platform Tink opposite an international team from White & Case. Tapping into the ongoing trend of transactions in the online payments sector, the high-profile …

We good corporate citizens – ESG report

We good corporate citizens – ESG report

‘There is such a sense that we need to walk the walk. More so than I’ve ever seen before. This has captured the attention of many senior management partners. People are now taking ESG and diversity and inclusion as seriously as anything else in the firm.’ The view of Doug Bryden, Travers Smith’s head of …