CMS UK unveiled a muted set of financial results today (5 July), with revenues inching up from £566m to £567m as global income increased 3% from €1.426bn to €1.475bn.
However both marginal increases represent a slowing of growth on the previous year, when UK and global figures grew 4% and 5% respectively. Continue reading “Financials 2020/21: revenues up just £1m at CMS UK despite modest global growth”
LB100 firm Stevens & Bolton has unveiled solid financial results for 2020/2021, marking 11 consecutive years of revenue growth.
In spite of the pandemic, the South East heavyweight has posted turnover of £29.1m, which represents a 2% increase on last year, while profit per equity partner in its all-equity partnership increased by 10% to hit £267,000. Continue reading “Stevens & Bolton posts eleventh year of turnover growth in latest set of financials”
After enduring a tumultuous pre-pandemic financial period, listed firm DWF has today (25 May) posted encouraging revenue growth matched by an ambitious double business acquisition.
The firm announced that it has acquired Devon-based compliance training business Zing 365 Holdings for £1.8m and also agreed to buy out Barnescraig & Associates, a Canadian insurance claims and loss adjusting business, for £2.2m. DWF predicts that the new service lines will add a healthy £3m of revenue and £500k of adjusted profit before tax in the next financial year. Continue reading “DWF bounces back to form with two major bolt-ons and 120% profit uptick”
Keystone Law has significantly outstripped its half-year results unveiled in September, by posting a healthy 11% increase in turnover for the full year to 31 January 2021.
Revenues were up to £55m from last year’s £49.6m, with the rate of increase nearly double the 6.5% announced in the half-year results. Continue reading “Resilient Keystone sees double-digit revenue growth in financials buoyed by senior recruitment”
Kirkland & Ellis has added $680m to its top line to trounce Latham & Watkins yet again as the world’s highest-grossing law firm, as global turnover surged 16% to $4.83bn.
The Chicago-bred giant had a significant uptick in private equity work to thank for its stellar 2020 results, which saw revenue surge from $4.15bn in 2019. Continue reading “Kirkland closes in on $5bn revenue as it remains world’s highest-grossing firm”
As the financial reporting season for Global 100 firms gathers pace, some less eye-catching financial results have emerged, with Dechert seeing a 6% revenue and profit reversal and Mayer Brown growing turnover only marginally to exceed $1.5bn.
Mayer Brown grew global revenue a sedate 2% to $1.52bn from just shy of $1.5bn last year when the firm recorded 7% revenue growth, while revenue per lawyer saw a slight 1% dip to $900,000 in 2020. Profit per equity partner (PEP) numbers were more heartening, climbing 11% to $2m from $1.8m in 2019 in the context of a 2% uptick in partners to 657 from 646 last year. Total lawyer headcount increased 3% to 1,685 from 1,632 in 2019. Continue reading “‘Reloaded, but not in time’: Dechert defends revenue and profit dip as Mayer Brown inches past $1.5bn turnover”
Latham & Watkins has brushed aside pandemic-linked uncertainty to report a 15% revenue hike to $4.33bn, while profit per equity partner has hit $4.52m.
The pace-setting results announced today (16 March) mean the Los Angeles-bred giant has bolstered its financials for a fifth year running, with a 20% surge in PEP more than doubling the 10% increase to $3.78m over 2019 . Continue reading “‘A platform that will thrive’: Latham bullish as blistering growth sees revenue hit $4.3bn alongside 20% PEP surge”
Despite starting the financial year by reducing partner drawings in response to the pandemic as well as other cost-cutting measures, Reed Smith has unveiled a respectable set of results that saw global revenue rise to over $1.3bn.
Overall revenue increased 5% from last year’s $1.25bn to $1.31bn this time around, while revenue per lawyer jumped 4% from $778,000 to $811,000. However there was a striking 16% uptick in profit per equity partner (PEP) from $1.3m to $1.5m which, combined with the firm’s 48 lateral partner hires in 2020, underlined the robustness of the results. Continue reading “Coronavirus measures pay off for Reed Smith as revenue tops $1.3bn while profit soars “
Taking the helm of a global law firm is no small feat at the best of times, much less so amid a global pandemic. However Hogan Lovells’ chief executive Miguel Zaldivar and his deputy Michael Davison, who assumed their roles last summer, had cause for cheer as the pair revealed a solid set of financial results, including a 31% surge in profit per equity partner (PEP) to $1.97m from $1.5m in 2019.
Global revenue grew a more sedate 3% to $2.3bn in 2020 compared with $2.25bn the previous year and revenue per lawyer (RPL) rose 4% to $884,000 from $850,000. Geographical performance has been broadly in line with last year’s output, with the Americas accounting for roughly 49% of total billings, EMEA 45% and Asia-Pacific 6%. Continue reading “Baptism of fire: New Hogan Lovells chiefs unveil record results as PEP nudges $2m”
Cooley’s London office has suffered a 4% revenue drop following the loss of its intellectual property team amid a striking 25% surge in PEP to $3.2m and strong financials globally.
The results revealed London turnover fell to $70.3m from $72.9m in 2019 – a reversal after a 9% increase last year marked a third consecutive year of revenue growth . Continue reading “‘Growth in the offing’: Cooley’s City turnover hit by IP team exit as PEP tops $3m “
