Financials 2016/17: Growth slows for Brodies as Scottish independent posts 2.4% revenue increase

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Scottish independent firm Brodies has posted slower growth for the financial year 2016/17, with turnover up 2.4% to £66.7m, while profit per equity partner (PEP) has decreased slightly, down 2% from £597,000 to £585,000.

However, profits before partner distributions rose by 2.6% to £31.7m and the firm’s cash balances increased by 14.4% to £18.2m in the seventh consecutive year of revenue and profit growth for Scotland’s largest law firm. Continue reading “Financials 2016/17: Growth slows for Brodies as Scottish independent posts 2.4% revenue increase”

Burford Capital grows from £80m startup to post record 130% income growth over year

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Burford Capital grows from £80m startup to post record 130% income growth over year

Litigation funder Burford Capital generated more profit in the first half of 2017 than any full year in its history, revealing a total income rise of 130% from last June to $175.5m.

The jump for the company, which operates in law as an alternative business structure, was a result of a booming investment income which rose by 148% to $161.6m in the same time period, the firm said. Continue reading “Burford Capital grows from £80m startup to post record 130% income growth over year”

Financials 2016/17: Bird & Bird PEP rebounds to top half million pound mark

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Bird & Bird‘s profit per equity partner (PEP) has risen for a second consecutive year, leaping 11% to £503,000, in line with the firm’s revenue growth, following a double-digit rise in corporate, intellectual property and employment work.

The technology and intellectual property-focused City firm’s net income rose to £52.8m over the year from £45.4m the previous year. Continue reading “Financials 2016/17: Bird & Bird PEP rebounds to top half million pound mark”

Charles Russell unveils 8% PEP rise amid modest revenue growth in year of consolidation

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Charles Russell unveils 8% PEP rise amid modest revenue growth in year of consolidation

Charles Russell Speechlys (CRS) has revealed 3% revenue growth for the 2016/17 financial year, alongside an 8% jump in profit per equity partner (PEP) in its second full year since the merger of Charles Russell and Speechly Bircham in 2014.

CRS managing partner James Carter said last year was one of consolidation for the merged firm, while dealing with costs associated with several office openings against the backdrop of a largely flat UK market. Continue reading “Charles Russell unveils 8% PEP rise amid modest revenue growth in year of consolidation”

‘Encouraging results’: Withers’ global expansion breeds revenue growth as PEP leaps 25%

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Private wealth specialist Withers has recorded a decade of consecutive growth this year, with a profit per equity partner (PEP) boost of 25% to £381,000.

With 2016/17 revenues up 8% to £174.5m, the pace of growth slowed from last year, when the top line figure was up 21% to £161.5m, but the firm’s international expansion appeared to continue to pay off. Continue reading “‘Encouraging results’: Withers’ global expansion breeds revenue growth as PEP leaps 25%”

Financials 2016/17: Expansive Burges Salmon cites Brexit impact as revenue and PEP growth halted

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Financials 2016/17: Expansive Burges Salmon cites Brexit impact as revenue and PEP growth halted

UK firm Burges Salmon’s profitability fell 8% in the year to 30 April for the first time in six years, which the firm attributed to the negative impact of Brexit on its business in a challenging year.

This year, the Bristol-headquartered firm’s revenue stayed at £87m, slightly down from last year’s £87.4m. Continue reading “Financials 2016/17: Expansive Burges Salmon cites Brexit impact as revenue and PEP growth halted”

‘Work in an agile way’: Ince & Co revenues rebound with 16% growth after three-year decline

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‘Work in an agile way’: Ince & Co revenues rebound with 16% growth after three-year decline

Ince & Co’s revenue has grown 16% to £88.5m this year, signalling recovery from a three-year decline, in what Ince’s international senior partner Jan Heuvels described as a ‘good year of investment and growth.’

Heuvels (pictured) told Legal Business that, ‘if you strip out the FX effect, as we do have significant non-sterling earnings, we still have a significant 10% increase in real terms.’ Continue reading “‘Work in an agile way’: Ince & Co revenues rebound with 16% growth after three-year decline”

‘No plans to stand still’: Morgan Lewis’ revenue surges to £34m in London

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‘No plans to stand still’: Morgan Lewis’ revenue surges to £34m in London

Morgan Lewis & Bockius’ London office revenue grew 17% in the year ended September 2016, increasing its London revenue last year to £33.9m, up from £29.1m in 2015.

The figures were revealed in limited liability partnership (LLP) documents filed in respect of its London and Paris offices. Continue reading “‘No plans to stand still’: Morgan Lewis’ revenue surges to £34m in London”

Financials 2017: Pensions boutique Sackers records 16% fall in PEP as revenue static

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Financials 2017: Pensions boutique Sackers records 16% fall in PEP as revenue static

Turnover at boutique pensions firm Sacker & Partners has slowed after last year’s strong growth, with average profit per equity partner (PEP) dropping to 794,000, 16% less than the previous year.

This year, Sackers also recorded stagnant turnover and a 5% fall in net income from £13.3m to £12.7m. Revenue at the firm, which focuses on pensions and retirement savings, remained flat at £26.7m, as it was unable to match its previous year’s financial success. Continue reading “Financials 2017: Pensions boutique Sackers records 16% fall in PEP as revenue static”

‘Particularly pleasing’: DAC posts 20% rise in PEP despite subdued revenue

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DAC Beachcroft‘s profit per equity partner has increased 20% from £358,000 to £432,000, despite subdued revenue growth which the firm attributed to global investments and challenging market conditions over the year.

The firm recorded a 3% revenue rise from £201.6m last financial year to £207m this year.

DAC Beachcroft notably further reduced its debt by £1m to £19m over the period. Continue reading “‘Particularly pleasing’: DAC posts 20% rise in PEP despite subdued revenue”