Mishcon de Reya has maintained steady revenue growth in its 2018/19 financial results, increasing its top line by 10% to £177.8m, as profit per equity partner (PEP) remained flat.
While the firm saw a greater revenue growth rate than the 8% uptick last year to £161.3m, PEP has failed to keep pace, with the flat result coming off the back of a 9% dip to £1m last year. Continue reading “PEP stays flat for Mishcon as revenue growth regains momentum”
The leadership at Osborne Clarke (OC) is conscious of any complacency creeping in after more than doubling in size in the last five years.
The firm recorded another year of double-digit growth internationally in 2018/19, up 11% to €304 last year and with non-UK revenue growing slightly to account for 44% of turnover. Growth was a little slower in the UK, up 8% to £150m as net profit rose 3% to £63m. Continue reading “Not about PEP: OC looks long-term after surpassing €300m with 11% revenue growth”
RPC has reported revenues of £108.6m for its legal business for 2018/19 after selling half of its management consulting arm.
The firm, which offloaded 50% of RPC Consulting to software company Marriott Sinclair in April 2018, announced today (25 July) that both like-for-like revenue and net profit for its legal arm alone rose 4% in 2018/19. Continue reading “‘Very encouraging’: RPC posts profit growth in shrinking partnership after splitting off consulting business”
Gordon Dadds has posted a pace-setting set of results that have seen revenue and profit soar thanks to the addition of Ince & Co last year.
The listed entity, Gordon Dadds Group Plc, saw revenue boosted 69% from £31.2m to £52.6m following its £43m acquisition of Ince. It is a positive set of results that come after the business suffered a share price drop to an all-time low only three months ago.
Continue reading “Ince merger pays dividends for Gordon Dadds as revenue and profit skyrocket post acquisition”
Stewarts Law has partly recovered from a 20% drop in turnover last year in what managing partner John Cahill described as a ‘very satisfactory’ year, although partner profits have continued to fall.
The UK’s largest litigation-only firm increased revenue by nearly 11% to £69m in the 2018/19 financial year, following a 20% drop in turnover from £77.9m to £62.4m last year. Profit per equity partner (PEP) decreased a further 16% to £1.2m from last year’s £1.4m: a figure that had dropped 28% the previous year. Continue reading “Stewarts’ PEP descends as revenue follows ‘non-linear’ growth path with 11% bounce”
Shoosmiths believes it is still on target to hit £200m in revenue after a steady financial year which saw modest growth and steady profit per equity partner (PEP) results after an 18% surge last year to £434,000.
The results today (24 July) showed a 7% increase in turnover to £137.6m, while net profit was up 6% to £37.9m, a significant slowdown on last year’s 22% growth. PEP was almost flat, edging up 2% to £441,000, but the result comes after an impressive hike in the metric last year. Continue reading “‘Last year wasn’t a blip’: Shoosmiths revenue rises 7% as profit growth slows”
Addleshaw Goddard managing partner John Joyce ‘would never have dreamed’ the firm would grow by more than 60% since his appointment in 2014.
But despite that strong growth trajectory, as well as profit per equity partner (PEP) growth of 89% and a £90m improvement in its cash position to £59m of reserves since the 2013/14 financial year, Joyce (pictured) said the plan is simply to ‘press on’. Continue reading “Addleshaws exceeds wildest five-year revenue dreams with 14% bump to £275m for 2018/19”
TLT has its sights on the £100m revenue barrier after adding nearly 50% to its top line over the last five years and having ring-fenced £500,000 to invest in enhancing its offering.
The Bristol-based LB100 firm said today (17 July) its revenue for the 2018/19 financial year was up 7% to £87.6m. That is 48% higher than in 2014 and more than double its 2012 turnover. The firm does not announce an unaudited profit figure but it is expected to have similarly grown: last year, profit rose 22% to £23.4m. Continue reading “TLT banks 7% revenue lift as £500k experimentation fund beds in”
The incoming chief executive of the UK’s first listed law firm, Gateley, says he reflects a ‘comforting continuance’ of the strategy which has seen the firm grow to more than £100m in revenue and nearly 1,000 staff.
Gateley today (16 July) confirmed earlier guidance its revenue had surpassed £100m by reporting a 20% increase in turnover to £103.5m in the year to 30 April 2019, up an impressive 67% from when it listed in 2015. Profit after tax lifted 11% to £13m, as fee-earner headcount rose 20% to 610. Continue reading “Gateley clears £100m ‘psychological barrier’ as incoming CEO pledges more of the same”
Bringing up the rear of the Big Four City firms to post solid but unspectacular financial results, Allen & Overy (A&O) has increased its top line by 5%, sending revenue up by £75m to nearly £1.63bn.
A&O’s £1.627bn turnover relegated it from second to third largest Magic Circle firm in revenue terms after Clifford Chance (£1.693bn) and Linklaters (£1.629bn) but above Freshfields Bruckhaus Deringer (£1.472bn). Continue reading “Not easy out there: A&O adds £75m to its top line amid muted PEP showing”
