Revenue at Keystone Law rose by more than a third to £42.7m as the listed legal platform’s principal lawyer headcount rose 14%.
The firm’s financial results for the year to 31 January 2019 – its first full set since becoming the third UK law firm to float in late 2017 – also show a strong 57% increase in net profit before tax to £5.1m. Continue reading “Stronger than expected recruitment track adds 35% to Keystone’s top line”
Increased publicity following Rosenblatt’s stock market float has helped lift revenue by 19%, although the IPO’s cost weighed on profit.
Rosenblatt said today (30 April) its revenue for the eight months to 31 December 2018 was £12.5m, up from £10.5m last year. Profit before tax, however, fell slightly to £3m from £3.2m, although EBITDA was up 18% to £4.3m. Continue reading “Rosenblatt seeks to flex litigation funding arm as IPO boosts revenue but hits profit”
City firm Forsters saw its revenue grow 8% in the last financial year, while profit per equity partner rose 10% to reach £381,000 in a steady year for the firm.
The private client and real estate specialist saw its top line reach £56.8m, despite a much-cited real estate malaise over London, while revenues from its private wealth practice grew 16%, meaning the practice has grown 110% since 2015. The firm’s family team, meanwhile, also saw a strong level of growth, increasing 26%. Continue reading “Forsters edges growth forward to £57m as the City looks for good omens”
Morrison & Foerster (MoFo) has added its name to the growing list of US firms with London offices outperforming the entire business in 2018 as City revenue grew by 25% against global dip in turnover by 2% to $1.04bn.
The firm announced today (26 March) its London revenue hit £30.93m in 2018, growing by more than 20% for the second year in a row after the 29% rise to £24.72m in 2017 . The 25% rise in its London turnover came amid a muted global performance at the West Coast-based firm, with turnover dropping 2% from $1.06bn. Revenue per lawyer was down 1% to $1.097m from $1.107m. Continue reading “‘Executing our strategy’: MoFo London revenue surges 25% but global turnover drops”
Kirkland & Ellis has hiked revenues by more than $500m to remain the world’s highest-earning law firm, as global turnover surged to $3.76bn.
The Chicago-bred giant today (21 March) revealed results for the 2018 financial year, confirmed a 19% hike in revenues against $3.165bn the previous year. Profit per equity partner (PEP) topped $5m for the first time, up 7% to $5,037,000 on the $4.7m for 2017. Revenue per lawyer was up nearly 3% to $1.63m. Continue reading “Kirkland breaks $5m PEP and outguns Latham again to stay world’s highest-grossing firm”
Chicago-bred Mayer Brown saw its global revenue rise 5.8% to $1.38bn as profit per equity partner (PEP) hiked 8.2% to hit $1.7m in 2018.
The growth rate is up from last year, when the firm increased its top line 4.2% to $1.31bn globally. However PEP growth slowed slightly, having grown 8.8% in 2017. Revenue per lawyer saw a 5.9% uptick to $885,000, an improvement on last year’s 5.3% figure. Continue reading “Mayer Brown’s global revenue nears $1.4bn as PEP spikes 8.2% amid expansive year”
DLA Piper added 8% to its global top line in 2018, making for consecutive years of growth following a dip in 2016.
The firm’s global revenue rose to $2.84bn, up on last year’s $2.63bn and continuing a bounce back from when the firm’s total turnover dipped below $2.5bn in 2016 because of exchange rate fluctuations across its international business, which is divided between an international LLP and a US LLP. Continue reading “DLA global turnover surpasses $2.8bn in second year of growth”
A year after becoming the first law firm to break the $3bn barrier, Latham & Watkins has posted an even stronger set of financial results, growing revenue at a faster 11% rate to hit $3.386bn in 2018.
Meanwhile, Sidley Austin joined the growing number of US firms to report double-digit growth for their City operations in 2018, hiking London revenue 14% to £97.5m. Continue reading “‘Only the beginning’: Latham adds more than $300m to top line as Sidley nears £100m in the City”
Paul Hastings saw its strong revenue growth in London tempered slightly to 14% in 2018 in what remained a strong year for the US outfit.
The double-digit revenue increase in London is lower than last year’s 25% rise, however it outstrips the firm’s global growth figure of 9%, itself up from 4% last year. Profit per equity partner (PEP) meanwhile broke the $3m mark, rising 12% to $3.25m. Continue reading “‘Better than many’: Paul Hastings sees London revenue grow 14% as Milbank breaks $1bn barrier globally”
Hogan Lovells has posted an 8% increase in profit per equity partner (PEP) to $1.38m after reducing equity partner headcount 6% to 523 in 2018.
The firm today (25 February) posted revenue of $2.12bn, up 4% on $2.04bn in 2017, a less pacey rate of growth than the 6% achieved in each of the previous two years. Revenue per lawyer (RPL) grew at a faster 6% pace to $804,000 as the firm cut its legal workforce 2% to 2,637 while total partner headcount, including non-equity partners, was down 4% to 803. Continue reading “Tightening of ranks at Hogan Lovells sees PEP approach $1.4m as turnover rises 4%”
