‘Cracking place to do business’: Burness Paull leverages international growth in 7% revenue uptick

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‘Cracking place to do business’: Burness Paull leverages international growth in 7% revenue uptick

It has been a choppy year for the Scottish economy but local independent Burness Paull has used a 30% increase in international mandates to drive its ninth consecutive year of revenue growth.

The firm’s revenue for the year to 31 July 2018 rose 7% to £57.6m, while profit lifted 8% to £23.8m. Chairman Peter Lawson (pictured), who took on the role at the start of August alongside new managing partner Tamar Tammes after the firm changed its leadership for the first time in a decade, told Legal Business he was pleased given it had been a tougher year for the Scottish economy. Continue reading “‘Cracking place to do business’: Burness Paull leverages international growth in 7% revenue uptick”

Revenue plunges 20% at Stewarts as contingent fee swings end stellar run

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Revenue plunges 20% at Stewarts as contingent fee swings end stellar run

Disputes specialist Stewarts has experienced a reality check after a consistent period of striking financial growth, with revenue tumbling by more than 20% for the 2017/18 financial year.

Turnover has dropped from £77.9m to £62.4m, while profit per equity partner (PEP) fell by an even wider 28% margin to £1.4m. Continue reading “Revenue plunges 20% at Stewarts as contingent fee swings end stellar run”

‘The giant is awakening’: Baker McKenzie adds $230m to revenue as partner profits surge 13%

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‘The giant is awakening’: Baker McKenzie adds $230m to revenue as partner profits surge 13%

Baker McKenzie has posted one of its best financial performances in recent history as revenue hit $2.9bn and partner profits reached $1.44m in the year to 30 June 2018.

An upbeat chair Paul Rawlinson claimed his firm was winning more higher value work as revenue rose 10% in constant currency and 8% in dollar terms from last year’s $2.67bn. The result confirmed Bakers as the third highest billing firm in the world, behind Kirkland & Ellis and Latham & Watkins. Continue reading “‘The giant is awakening’: Baker McKenzie adds $230m to revenue as partner profits surge 13%”

RPC’s profits rebound amid 10% revenue growth after consulting arm produces ‘good results’

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RPC’s profits rebound amid 10% revenue growth after consulting arm produces ‘good results’

RPC has followed up on last year’s disappointing financial performance with a 10% rebound in profits as revenue hit £112.7m.

The rise in net income to £28.9m was coupled with an 8% increase in profits per equity partner (PEP) to £348,000. The 2017/18 financial year was an improvement on last year’s modest 2% revenue growth, which resulted in an 11% drop in PEP to £322,000. Continue reading “RPC’s profits rebound amid 10% revenue growth after consulting arm produces ‘good results’”

HFW’s continued international growth lifts revenue 8% in tough market conditions

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HFW’s continued international growth lifts revenue 8% in tough market conditions

UK top 50 firm HFW has produced a competitive set of financial results headlined by a 12% rise in profit and strong international performances.

Revenue for the 2017/18 financial year increased 8% to £179.1m, while profit per equity partner (PEP) was up 2% to £542,000. In the past two fiscal years, HFW’s revenues have grown by more than 25%. Continue reading “HFW’s continued international growth lifts revenue 8% in tough market conditions”

City’s mid-weight elite set blistering pace as Travers and Macfarlanes surge in 2017/18

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City’s mid-weight elite set blistering pace as Travers and Macfarlanes surge in 2017/18

Marco Cillario assesses the results amid another strong year for the City’s mid-tier

The latest financial results by UK law firms show leading mid-market players once again harnessing robust commercial activity to post a series of startling results well ahead of larger rivals. Continue reading “City’s mid-weight elite set blistering pace as Travers and Macfarlanes surge in 2017/18”

Lucky seven: Stevens & Bolton reveals seventh year of growth and posts record partner profits

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Lucky seven: Stevens & Bolton reveals seventh year of growth and posts record partner profits

Continuing its consistently impressive organic growth, South East heavyweight Stevens & Bolton has posted a 9% hike in turnover to a new high of £26.8m, as the firm maintains its climb up the Legal Business 100.

Profit per equity partner, meanwhile, also hit a record high in 2017/18, increasing by 25% from £330,000 to £411,000. The results mean the Guildford-based firm has secured consecutive growth for the last seven years, with heightened activity in corporate, employment and pensions all contributing. Continue reading “Lucky seven: Stevens & Bolton reveals seventh year of growth and posts record partner profits”