Hogan Lovells has posted an 8% increase in profit per equity partner (PEP) to $1.38m after reducing equity partner headcount 6% to 523 in 2018.
The firm today (25 February) posted revenue of $2.12bn, up 4% on $2.04bn in 2017, a less pacey rate of growth than the 6% achieved in each of the previous two years. Revenue per lawyer (RPL) grew at a faster 6% pace to $804,000 as the firm cut its legal workforce 2% to 2,637 while total partner headcount, including non-equity partners, was down 4% to 803.
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