Financial results 2013/14: BLP’s PEP up 35% and revenue 6%

Financial results 2013/14: BLP’s PEP up 35% and revenue 6%

In one of the most anticipated sets of financial results of the 2013/14 financial reporting season, Berwin Leighton Paisner (BLP) last month unveiled its latest figures, with the top-20 firm’s revenue and profits per equity partner (PEP) up by 6% and 35% respectively, to £246m and £542,000.

As one of the earliest top City firms to unveil its financial results, these numbers, and the timing of their release are in marked contrast with last year, when the firm became the last to disclose that its PEP was down by 39% and its revenues were flat.

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Financial results 2014: double-digit growth in UK as Osborne Clarke unveils 26% turnover rise

Financial results 2014: double-digit growth in UK as Osborne Clarke unveils 26% turnover rise

Following a year of further international expansion and lateral hires, Osborne Clarke (OC) today (12 May) announced that its global revenue for 2013/14 has jumped by 26% to €169m, thanks to a ‘more confident’ market and its targeted sector focus.

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‘Slower than expected growth’ sees Co-operative Legal Services unveil £22m operating loss with flat turnover

‘Slower than expected growth’ sees Co-operative Legal Services unveil £22m operating loss with flat turnover

Co-operative Legal Services (CLS) has made an operating loss of £22m for 2013 and unveiled a flat turnover, blaming a slower than expected growth rate for the period and factors including a hit to its personal injury business stemming from the Jackson Reforms. Continue reading “‘Slower than expected growth’ sees Co-operative Legal Services unveil £22m operating loss with flat turnover”

‘Difficult quarter’ for Citigroup as it discloses 33% increase in Q1 2014 legal spend

‘Difficult quarter’ for Citigroup as it discloses 33% increase in Q1 2014 legal spend

Citigroup has joined a raft of global financial institutions that have declared a substantial rise in their legal spend, up by 33% in the first quarter of 2014 compared to the same time last year, according to the bank’s financial report released yesterday (14 April). Continue reading “‘Difficult quarter’ for Citigroup as it discloses 33% increase in Q1 2014 legal spend”