Ashurst has posted its second year of falling revenues following its merger with Blake Dawson in 2013 with turnover dipping by £28m, bringing the firm’s revenues down 10% to £505m.
‘Obviously some headwinds’: Clifford Chance revenue up 3% while PEP leaps by 10%
Clifford Chance (CC) has become the second Magic Circle firm to announce its financial results for the 2015/16 year, with revenues up 3% to £1.39bn while profit per equity partner has leapt by 10% to £1.23m, the firm’s highest to date.
Continue reading “‘Obviously some headwinds’: Clifford Chance revenue up 3% while PEP leaps by 10%”
‘Building our business’: Turnover growth stalls at Shoosmiths with 4% revenue rise
Shoosmiths has seen revenue rise 4% for 2015/16 to £107m, down on the firm’s double digit growth last year of 10%. In 2014/15, the firm saw turnover recover to near pre-2008 levels, reaching £102.7m. The latest results see the firm beat its 2007/8 record for the first time, when the revenues reached £103.4m.
Financials 2015/16: DAC Beachcroft posts 9% profit boost despite subdued turnover
As the firm continues gradual growth, DAC Beachcroft increased turnover to £202m, a 2% increase on last year’s £200m. Profit before tax was up £3m to £35m, a 9% rise on last year’s figures, with profit before tax per member rising 21% to £358,000.
Continue reading “Financials 2015/16: DAC Beachcroft posts 9% profit boost despite subdued turnover”
‘Very well-balanced’: Allen & Overy posts modest growth with revenue up by 2.3%
The first of the Magic Circle to report financials this year, Allen & Overy (A&O) posted another year of growth with revenue rising by a modest 2.3% to £1.31bn. Last year turnover had risen by 4% to £1.28m.
Continue reading “‘Very well-balanced’: Allen & Overy posts modest growth with revenue up by 2.3%”
HSF delivers best post-merger revenue performance yet with revenues up 7% to £870m
Herbert Smith Freehills (HSF) has put in its strongest financial performance since its creation in 2012 through the merger of the UK’s Herbert Smith and Australia’s Freehills, with revenue up 7% in 2015/16 to £870m.
Improved strategy sees Addleshaw Goddard post modest revenue bump of 5% for 2015/16
Following the pattern of other mid-tier firms, which have seen slower growth this year compared to the financial year 2014/15, Addleshaw Goddard has surpassed the £200m mark for 2015/16, with revenues up 5% to £201.8m.
Financials 2015/16: Clyde & Co posts double-digit revenue growth and record PEP
Clyde & Co has posted an impressive 13% increase in turnover, topping last year’s 9% revenue boost amid a year of slow growth for many LB100 firms.
Continue reading “Financials 2015/16: Clyde & Co posts double-digit revenue growth and record PEP”
Financials 2015/16: Scottish independent Brodies continues strong form with double-digit revenue and PEP growth
One of the big four remaining independent law firms in Scotland, Brodies has continued its strong form announcing revenue growth of 12% from £57.9m to £65.1m, while profits per equity partner (PEP) is up 13% from £532,000 to £602,000.
Financials 2015/16: Nabarro latest to report slow growth with 3.5% revenue increase
Nabarro has increased turnover by 3.5% to £130.4m, joining other mid-market firms with muted results for 2015/16. Last year the firm posted an 8% revenue rise to £126m, its biggest rise in more than a decade.