Burges Salmon had its core sector groups to thank as it today (27 September) unveiled a robust 10% uptick in turnover from £108.7m to £119.2m.
It marks a significant speeding of growth, after last year revenues grew by 4% from £104.9m to £108.7m.
Continue reading “Tech sector 100% growth leads to double-digit revenue boost at Burges Salmon”
Disputes-only outfit Signature Litigation has marked its tenth year since inception with a marginal rise in revenues, inching upwards 1.5% from £27.4m to £27.8m.
Staff had cause for cheer, however, as they were paid an increased annual profit share of 18.7% in line with Signature’s co-operative model. Last year, when revenues grew by 22%, the profit share payout amounted to 17.6%. Continue reading “Slower growth at Signature Litigation but staff see increased profit share”
Travers Smith has today (26 August) reported a modest 5% rise in revenue to £195m from £185.7m. This represents a slowdown from the firm’s 15% hike last year as it is impacted by the war in Ukraine and resulting macroeconomic challenges.
Profit per equity partner (PEP) fell 9% to £1.105m from £1.22m in 2021. Meanwhile, equity partner numbers stayed broadly flat with 58, one more than last year. Continue reading “Financials 2021/22: Travers’ PEP takes a hit as revenue growth slows”
The annual torrent of financial results has swept the market once more, with all eyes as usual on how the Magic Circle firms fared against City peers.
Freshfields Bruckhaus Deringer and Allen & Overy (A&O) both racked up 10% revenue growth, with Clifford Chance (CC)’s turnover growing 8%, and Linklaters’ increasing by 7%. In absolute terms, CC recorded the largest fee income of £1.97bn, narrowly ahead of A&O’s £1.94bn. Linklaters and Freshfields followed with £1.78bn and £1.7bn respectively. Continue reading “Show us the money: 2021/22 financial results show strength in numbers”
As financial results season enters the home straight, Scottish leaders Burness Paull and Brodies, as well as London-based disputes firm Stewarts, have announced strong increases to their top and bottom lines.
Burness Paull has unveiled a bullish set of financial results, with a 9% rise in turnover to £78.6m and a 7% hike in profit to £35.7m. Employees in particular will welcome the news, as the numbers are sufficient to trigger an all-staff bonus worth either 5% of their annual salary, or £2,500, whichever is higher. Continue reading “Financials 2021/22: Strong year for Scottish independents while Stewarts’ profits balloon 93%”
HFW attributed a 1% dip in revenue from £200m to £198.7m to a ‘prudent’ reduction in lawyer headcount during the pandemic, while profit per equity partner (PEP) also slipped.
PEP was down 2% from last year’s record high of £683,000 to £669,000, which the firm chalked up to the drying up of pandemic-era cost savings: ‘HFW saw exceptional cost savings during the pandemic. These cost savings diminished during FY22 as countries across the firm’s global network began to return to normality.’ Equity partner levels are understood to have remained broadly flat on last year.
Continue reading “HFW records slipping profits and revenue as it grapples with Covid recovery”
Stephenson Harwood has reported flat financials for financial year 2021/22, after a correction to last year’s results.
Revenue remained at £206m with profit per equity partner (PEP) of £685,000. This would have amounted to a drop in revenue from £209m first reported for financial year 2020/21, had the firm not adjusted last year’s financials after it settled claim regarding £3m of unpaid fees between announcing and closing its accounts. This adjustment marks a 3% drop in revenue and 6% dip in PEP from 2020. Continue reading “Stephenson Harwood blames transition for underwhelming results as Stevens & Bolton celebrates twelfth year of growth”
