Eversheds records double-digit growth as ‘uncertainty barometer’ rises

Eversheds records double-digit growth as ‘uncertainty barometer’ rises

Eversheds Sutherland (International) has built on its 2017 transatlantic merger with a second year of strong revenue and profit growth.

However, chief executive Lee Ranson (pictured) has cautioned that the ‘uncertainty barometer is increasing’, although this will not dampen the firm’s appetite for further investment. Continue reading “Eversheds records double-digit growth as ‘uncertainty barometer’ rises”

No Buzz Lightyear complex as Kennedys’ revenue tops £200m for the first time

No Buzz Lightyear complex as Kennedys’ revenue tops £200m for the first time

Kennedys senior partner Nick Thomas will be ‘very disappointed’ if the firm does not have another year of double-digit growth after its revenue broke through £200m for the first time this year.

Global turnover at the insurance and shipping specialist for the year to 30 April 2019 grew 11% to £218m, as fee-earner headcount grew 7% to exceed 2,000 for the first time. The firm made a number of lateral hires last year, most recently a 10-lawyer team – including two partners – from Norton Rose Fulbright. Continue reading “No Buzz Lightyear complex as Kennedys’ revenue tops £200m for the first time”

Dentons UK and Middle East revenue nears £230m in first post-Scotland results

Dentons UK and Middle East revenue nears £230m in first post-Scotland results

Dentons’ UK and Middle East revenue rose 13% to £229.8m in 2018/19 but growth in profit per equity partner (PEP) slowed, rising 4% to £676,000 compared to a 36% spike the previous year.

The firm announced today (5 June) the first financial results for its UKME LLP covering a full financial year of operations since the merger with Scottish firm Maclay Murray & Spens, which went live in November 2017  and added three offices in Aberdeen, Edinburgh and Glasgow to the firm’s network. Continue reading “Dentons UK and Middle East revenue nears £230m in first post-Scotland results”

Taylor Wessing breaks £150m UK revenue barrier as PEP rises 13%

Taylor Wessing breaks £150m UK revenue barrier as PEP rises 13%

Taylor Wessing has kicked off the financial reporting season for the UK top-25 with another year of double-digit growth in profit per equity partner (PEP).

In the first financial results since Shane Gleghorn took over as managing partner, the tech-focused firm increased UK turnover by 8% to £156.6m in 2018/19. Continue reading “Taylor Wessing breaks £150m UK revenue barrier as PEP rises 13%”

Stronger than expected recruitment track adds 35% to Keystone’s top line

Stronger than expected recruitment track adds 35% to Keystone’s top line

Revenue at Keystone Law rose by more than a third to £42.7m as the listed legal platform’s principal lawyer headcount rose 14%.

The firm’s financial results for the year to 31 January 2019 – its first full set since becoming the third UK law firm to float in late 2017  – also show a strong 57% increase in net profit before tax to £5.1m. Continue reading “Stronger than expected recruitment track adds 35% to Keystone’s top line”

Rosenblatt seeks to flex litigation funding arm as IPO boosts revenue but hits profit

Rosenblatt seeks to flex litigation funding arm as IPO boosts revenue but hits profit

Increased publicity following Rosenblatt’s stock market float has helped lift revenue by 19%, although the IPO’s cost weighed on profit.

Rosenblatt said today (30 April) its revenue for the eight months to 31 December 2018 was £12.5m, up from £10.5m last year. Profit before tax, however, fell slightly to £3m from £3.2m, although EBITDA was up 18% to £4.3m. Continue reading “Rosenblatt seeks to flex litigation funding arm as IPO boosts revenue but hits profit”

Forsters edges growth forward to £57m as the City looks for good omens

Forsters edges growth forward to £57m as the City looks for good omens

City firm Forsters saw its revenue grow 8% in the last financial year, while profit per equity partner rose 10% to reach £381,000 in a steady year for the firm.

The private client and real estate specialist saw its top line reach £56.8m, despite a much-cited real estate malaise over London, while revenues from its private wealth practice grew 16%, meaning the practice has grown 110% since 2015. The firm’s family team, meanwhile, also saw a strong level of growth, increasing 26%. Continue reading “Forsters edges growth forward to £57m as the City looks for good omens”

‘Executing our strategy’: MoFo London revenue surges 25% but global turnover drops

‘Executing our strategy’: MoFo London revenue surges 25% but global turnover drops

Morrison & Foerster (MoFo) has added its name to the growing list of US firms with London offices outperforming the entire business in 2018 as City revenue grew by 25% against global dip in turnover by 2% to $1.04bn.

The firm announced today (26 March) its London revenue hit £30.93m in 2018, growing by more than 20% for the second year in a row after the 29% rise to £24.72m in 2017 . The 25% rise in its London turnover came amid a muted global performance at the West Coast-based firm, with turnover dropping 2% from $1.06bn. Revenue per lawyer was down 1% to $1.097m from $1.107m. Continue reading “‘Executing our strategy’: MoFo London revenue surges 25% but global turnover drops”

Kirkland breaks $5m PEP and outguns Latham again to stay world’s highest-grossing firm

Kirkland breaks $5m PEP and outguns Latham again to stay world’s highest-grossing firm

Kirkland & Ellis has hiked revenues by more than $500m to remain the world’s highest-earning law firm, as global turnover surged to $3.76bn.

The Chicago-bred giant today (21 March) revealed results for the 2018 financial year, confirmed a 19% hike in revenues against $3.165bn the previous year. Profit per equity partner (PEP) topped $5m for the first time, up 7% to $5,037,000 on the $4.7m for 2017. Revenue per lawyer was up nearly 3% to $1.63m. Continue reading “Kirkland breaks $5m PEP and outguns Latham again to stay world’s highest-grossing firm”

Mayer Brown’s global revenue nears $1.4bn as PEP spikes 8.2% amid expansive year

Mayer Brown’s global revenue nears $1.4bn as PEP spikes 8.2% amid expansive year

Chicago-bred Mayer Brown saw its global revenue rise 5.8% to $1.38bn as profit per equity partner (PEP) hiked 8.2% to hit $1.7m in 2018.

The growth rate is up from last year, when the firm increased its top line 4.2% to $1.31bn globally. However PEP growth slowed slightly, having grown 8.8% in 2017. Revenue per lawyer saw a 5.9% uptick to $885,000, an improvement on last year’s 5.3% figure. Continue reading “Mayer Brown’s global revenue nears $1.4bn as PEP spikes 8.2% amid expansive year”