Taylor Wessing has joined a band of leading City firms to have turned out a double digit increase in revenue for the 2013/14 half year (H1), unveiling a 10% increase in its UK turnover.
The 960-lawyer firm has credited extensive investment, including international expansion and a series of lateral hires for the uptick in its performance, which internationally saw its H1 revenues increase by 9%. Continue reading “H1 2013/14: Taylor Wessing reveals UK revenue increase of 10%”
Bird & Bird today (3 December) attributed a 5% increase in its half year (H1) 2013/14 revenues to the strengthening of its international offering, although the firm declined to disclose its underlying turnover figure.
The 960-lawyer firm, which operates its accounts in euros, estimated growth of 5% in euros, which it claims equates overall to 10% growth in sterling when currency fluctuations across H1 are taken into account.
Highlights in H1 include office openings in Dubai and Denmark, as well as lateral hires across corporate, intellectual property and media. Continue reading “H1 2013/14: Bird & Bird reveals revenue increase of 5%”
Newly-merged Ashurst has joined the growing numbers of top 50 LB100 firms to report an increase in turnover during the first half (H1) of 2013/14, with its combined revenues up by 5.8% to £298m, thanks to improved prevailing economic conditions and an uptick in transactional work.
The 1,800-lawyer firm, which achieved full financial integration with big six Australian firm Blake Dawson in September this year, has disclosed combined revenues for the two firms during the period 1 May to 31 October 2013. Its 5.8% increase is set against a pre-merger combined revenue of £281.7m this time last year. Continue reading “H1 2013/14: Ashurst sees combined half year figures rise by 6%”
By any estimation 2012/13 was Berwin Leighton Paisner’s (BLP’s) annus horribilis but the top 20 firm is showing modest signs of recovery with today’s (2 December) announcement that its revenues are up by 6% on this time last year.
Partners at the 786-lawyer firm have for some time privately indicated that its 2013/14 revenues are showing signs of improvement and the 6% rise, while starting from a low base given its 5% decline from £246m to £233m last year, is confirmation that their quiet confidence is, to an extent, justified. Continue reading “H1 2013/14: BLP reveals a 6% increase in turnover”
The first of the Magic Circle firms to disclose its 2013/14 half year (H1) results, Allen & Overy (A&O) has done so in reasonable style, starting the year with a 7.5% rise in revenues thanks in large part to strong performances in its litigation and finance practices.
H1 turnover at the 2,700-lawyer firm increased to £608m, marking a significant improvement on this time last year, when its 2012/13 H1 revenues dipped by 2.7% on the previous year from £582m to £566m.
While A&O, in keeping with the majority of City firms does not disclose its mid-term profits, managing partner Wim Dejonghe (pictured) told Legal Business that the results were ‘encouraging’. Continue reading “H1 2013/14: A&O discloses revenue rise of 7.5%”
Top-40 LB100 firm Hill Dickinson has posted a half year increase in revenues from £54.9m from £51.9m this time last year, after asking members to increase their capital contributions during the summer.
The 520-lawyer firm issued a £2.8m cash call in August after a year of heavy investment, including opening an office in Monte Carlo and Hong Kong. The firm then underwent a strategic review earlier this year which included the sale of its Chester office in July to Knights Solicitors and announcing 83 redundancies.
Continue reading “Hill Dickinson sees H1 revenues up 6% following summer cash call”
It set the market on fire this year after picking of the lion’s share of Cobbetts at the end of an explosive 18-month spell of consolidation, so it comes as no surprise that DWF has posted a 57.5% increase in half-year revenues to £93.6m from £59.4m this time last year.
According to the 984-lawyer, top 25 firm, over 10% (£6m) of its reported revenue growth is organic, the remainder stemming from the firm’s merger with Fishburns and acquisition of Cobbetts, both in February 2013. The firm said profits were also up significantly at the half-year stage, although it was unable to provide any figures yet.
Continue reading “Blazing a trail: DWF unveils 58% H1 revenue growth and increased profits”
Wragge & Co has named October 2013 as its highest billing month since the boom years as it joins the ranks of firms posting positive results for the first half (H1) of 2013/14, news which comes as Ian Metcalfe confirms he will be departing the firm to pursue other opportunities when he steps down as managing partner next April.
The top 30 Birmingham-headquartered firm has posted a group turnover increase of 4% to £63m, which includes the firm’s international offices both owned and affiliated, while the UK offices saw a revenue increase 6% on the same period last year to £58m.
Wragge & Co is so far unusual in announcing its mid-term profits and it has good reason to shout about them, as they are up 15% on this time last year. Continue reading “Wragge & Co sees H1 revenues and profits up as Metcalfe to leave after end of MP term”
The first half (H1) of the 2013/14 year is proving to be more benign than last as Field Fisher Waterhouse joins a number of top 40 firms to post a revenue increase, seeing turnover up by 7% to £49.9m compared to £46.8m at the same time last year.
These results are set against the 358-lawyer firm’s overall drop of 3% in revenue in 2012-13 to £95m and an 8% decrease in profit per equity partner to £398,000. Continue reading “H1 2013/14: Field Fisher reveals 7% spike in turnover”
Olswang has joined the early ranks of top 50 firms to reveal their half year (H1) 2013/14 results, with turnover up 15% on the same period last year, bringing in revenues of £57.6m compared with £50.03m last November.
In a statement, the top 35 firm’s chief executive, David Stewart (pictured), who in April was elected for a further three-year term, commented: ‘This is a good performance in what is still a challenging market. We’ve seen strong performances from our German, Belgian, Asian and French teams, combined with a much better London first half. We are now focused on delivering an equally strong second half year to continue our progress towards our strategic goal of becoming a leading international firm focused on the TMT and real estate sectors.’ Continue reading “H1 2013/14: Olswang sees turnover jump by 15%”
