CMS has unveiled a marginal increase in revenue for the 2013/14 financial year, with turnover up by under 1% from €837.7m to €842.1m for the year ending 31 December 2013. Continue reading “Financial results 2013/14: CMS unveils flat revenues with profit up 3.3%”
Financial results 2013/14: Taylor Wessing’s PEP up 21% alongside 7.4% increase in UK revenue
Taylor Wessing yesterday (2 June) became one of the earlier UK movers in disclosing its financial results for the 2013/14 year, posting a 21% rise in profit per equity partner to £657,000 alongside an increase in UK and global revenues of 7.4% and 6.4% respectively. Continue reading “Financial results 2013/14: Taylor Wessing’s PEP up 21% alongside 7.4% increase in UK revenue”
Financial results 2013-14: BLP’s profit up 35% and revenue 6%
Undoubtedly some of the most anticipated financial results of the 2013-14 financial reporting season, Berwin Leighton Paisner (BLP) has unveiled its latest figures, with the top 20 firm’s revenue and profit per equity partner (PEP) up by 6% and 35% respectively, to £246m and £542,000. Continue reading “Financial results 2013-14: BLP’s profit up 35% and revenue 6%”
Financial results 2013/14: Charles Russell’s revenue up by 7% as Weightmans posts record numbers
The first top 50 firms to unveil their 2013/14 financial results, Charles Russell and Weightmans this week each unveiled a healthy revenue increase of around 7%. Continue reading “Financial results 2013/14: Charles Russell’s revenue up by 7% as Weightmans posts record numbers”
Squire Sanders reveals almost flat US turnover and profits as Patton Boggs talks ongoing
Squire Sanders has unveiled largely flat 2013 results in the US, with revenue at the top 15 LB100 firm, which is still in merger talks with Washington’s Patton Boggs, nudging up just 0.1% to $775m. Continue reading “Squire Sanders reveals almost flat US turnover and profits as Patton Boggs talks ongoing”
Noerr cites uptick in cross-border work for revenue growth of 12.3% to €190.8m
German independent Noerr has posted a record turnover of €190.8m for 2013. The Munich-headquartered firm’s revenue grew by 12.3% from €170m in 2012, although turnover in its Central and Eastern European offices fell by around 3% to €26.3m, the firm said today (26 March).
Continue reading “Noerr cites uptick in cross-border work for revenue growth of 12.3% to €190.8m”
Early numbers in US results season confirms solid growth as Shearman and Dechert lead the pack
US leaders grind out growth in 2013 despite ‘anaemic economy’
Despite having to contend with what Latham & Watkins’ outgoing global chairman Bob Dell described to Legal Business as a still ‘anaemic economy’ last year, early results among the US law firms to disclose their 2013 financials are solid, with many forecasting a return to substantive growth this year.
Dechert was among the first to reveal its financials for 2013, with revenue up by 6.6% to $777.2m from $729m.
US results season: White & Case sees revenues increase 4% as PEP hits $1.87m
Despite the recent relative economic revival in the US, the world’s largest legal market remains turbulent but early numbers from major US players do indicate many firms are now sustaining growth. Early out of the gate, White & Case has published its 2013 financial results reporting a steady 4.1% increase in global revenues with profits per equity partner (PEP) rising 10%.
Gross turnover at the top-15 global firm increased to $1.44bn in 2013 from $1.38bn in the previous year. The New York-based law firm’s revenue per lawyer grew at a similar level of 4.4% to $760,064 from $711,000, while its PEP rose to $1.87m from $1.7m, climbing 10%.
Continue reading “US results season: White & Case sees revenues increase 4% as PEP hits $1.87m”
Bank spend – RBS warns of £3bn extra litigation costs ahead of next month’s financial results
In a statement rushed out late yesterday (27 January) to soften the blow of its official results announcement next month, Royal Bank of Scotland (RBS) has revealed that it is heading for a pre-tax loss of between £7bn-£8bn after setting aside an extra £3bn to cover litigation and compensation costs.
The retail bank, which was rescued from collapse by the Government in 2008 at the height of the financial crisis and continues to be dogged by claims arising out of that era, has set aside £1.9bn to cover ‘various claims and conduct related matters affecting group companies, primarily those related to mortgage-backed securities and securities related to litigation, following recent third party litigation settlement and regulatory decisions.’ Continue reading “Bank spend – RBS warns of £3bn extra litigation costs ahead of next month’s financial results”
H1 2013/14: Nabarro points to pick up in corporate and real estate amid flat half year results
Nabarro has posted flat half year (H1) revenues for the 2013/14 year, with figures rising by a marginal 0.3% from £52.3m to £52.5m, the firm announced yesterday (4 December).
Speaking to Legal Business, senior partner Graham Stedman (pictured) attributed the static results to a ‘quiet August and September’ but noted the firm has experienced a ‘pickup in real estate and corporate.’
He added: ‘As you come out of recession, although the market is still challenging, you would expect the non-contentious parts of the firm to pick up and that’s what we’re seeing now.