Freshfields Bruckhaus Deringer has become the third Magic Circle firm to release its 2013/14 limited liability partnership (LLP) filings with Companies House, showing the firm’s profits increasing, ‘before the movement in the provision of partner annuities’, by 7% to £528m off the back of £1.28bn in revenues.
Continue reading “Financials 2013/14: Freshfields’ profits continue to grow as headcount expands”
Wragge & Co’s last limited liability partnership (LLP) accounts before it merged with Lawrence Graham show that profit before remuneration grew by 8%, climbing from £39.5m to £42.6m as the number of staff employed fell by 106.
Bird & Bird’s latest limited liability partnership (LLP) accounts show turnover at the firm grew 5% from €293m to just under €309m in the year to 30 April 2014, but that profit at the LLP was down 5% from €60.3m to €57.1m as staffing costs rose.
Allen & Overy (A&O) is the latest Magic Circle firm to release its LLP accounts for the 2013/14 financial year, posting a 7% profit-before-tax increase from £497m to £532m, while average profits per full partner were up 6.7% to £1.12m.
Continue reading “Accounts revealed: Allen & Overy profits jump £35m as it cuts staff costs”
Accounts filed at Companies House have revealed Berwin Leighton Paisner made a strong financial recovery in 2013/14, with profit after tax rising 26% to £66.3m for the financial year, up from £52.4m in 2012/13, as the firm captured a greater volume of work and trimmed the size of its workforce.
Recently filed accounts at Companies House have shown the highest paid member of the Linklaters partnership took home £2.4m at the end the last financial year, £100,000 more than in 2013.
Continue reading “£1.25bn in revenue: Linklaters top earner brings home £2.4m as profits rise 7%”
White & Case‘s most recent limited liability partnership (LLP) accounts filed at Companies House show turnover in its UK and Africa offices dropped 2% in the financial year ending December 2013.
High-flying disputes boutique Signature Litigation has seen its revenue surge by 70% from £4.82 to £8.17m in 2013/14, despite having only launched two years ago, while profit margins are estimated at 50%. The firm has also taken an innovative approach by operating an all-inclusive, fully transparent, profit-sharing model.
High-flying disputes boutique Signature Litigation has seen its revenue surge by 70% from £4.82 to £8.17m in 2013/14, despite having only launched two years ago, while profit margins are estimated at 50%. The firm has also taken an innovative approach by operating an all-inclusive, fully transparent, profit-sharing model.
Founded by former Hogan Lovells partners Graham Huntley and Helen Brannigan, the 30-member firm has seen some substantive disputes mandates come its way since its inception, taking on a role in the heavyweight Fortress v Blue Skye litigation, a dispute that arose out of the reorganisation of the €200m Blue Skye Investment Group in Italy. Listed for trial over 12 weeks from May this year, Signature represented the defendant Blue Skye while Slaughter and May and DAC Beachcroft acted for Fortress Value Recovery Fund. ‘There can be no more testing mandate for a niche firm than taking on a massive case of that nature in mid-course against two very well-resourced opponents,’ said Huntley.
It’s an unforgiving environment, but 2014 once again shows the well-captained mid-tier outfits sailing free.
‘I’m a great believer that you can always do better and however good a particular year was, you have to exceed that. And we are far from perfect.’ So says Simon Beswick, managing partner at Osborne Clarke (OC), one of the strongest performers in the Legal Business 100 (LB100) this year.
The Bristol-based firm saw turnover rise 26% in 2013/14 – the largest single increase in the LB100 – and has seen revenue rise by 69% since 2009.
Continue reading “LB100: The Second Quartile – Close Hauled”
