As financial results season continues apace, Linklaters today (9 August) joined Magic Circle peers in showing its hand, posting a 6.5% uptick in revenue to £1.783bn.
Pre-tax profit also saw a comparable increase of 7% to £871.7m. That translated to a 5.4% rise in profit per equity partner (PEP), which reached £1.87m, and a 4.5% rise in profit per all partners, which now stands at £1.78m. Continue reading “‘Bold and decisive’: Linklaters sees 6.5% revenue rise as £1.87m PEP lags Magic Circle”
Dentons has become the latest firm to post encouraging financials for 2021/22, announcing a robust 14% increase to its top line across its UK, Ireland and the Middle East (UKIME) business, which reached £260.4m.
Much of the growth was driven by a surge in corporate activity, with the UK corporate group seeing revenues hike by over 20%. Internal referral work also increased, as inbound work from outside the region surged by 40% to £35m. Continue reading “Dentons posts promising 14% revenue rise in UK and Middle East as investment hits DAC Beachcroft profits”
Addleshaw Goddard has credited its increased European footprint for the promising financial results released today (3 August), which saw revenue rise by 18% to £377m, and an increase in profit by 16% to £155m.
Regional revenue performance is also testament to the firm’s improvement in Europe. Though UK turnover was up a solid 15%, it paled in comparison with that generated overseas, which jumped a striking 30%. Continue reading “‘A growing, globally active business’: Addleshaw’s European push spurs 18% revenue growth”
Freshfields Bruckhaus Deringer today (27 July) announced its 2021/22 financial results, becoming the latest magic circle firm to highlight its US growth amid a robust performance.
The firm marked its sixth consecutive year of revenue growth with a 10% rise, bringing its turnover to £1.7bn – notably pacier growth than its 5% increase to £1.59bn last year. Continue reading “Freshfields reports ‘very solid performance’ as it progresses US growth plans”
Marking its twelfth consecutive year of revenue growth, Macfarlanes today (26 July) unveiled bullish double-digit gains across the board, with turnover increasing 16% to £303.7m.
Profit per equity partner (PEP) rose 19% to £2.484m to exceed that of both Clifford Chance and Allen & Overy, which have recorded PEP of £2.04m and £1.95m respectively. Continue reading “Macfarlanes credits ‘active approach’ by clients as PEP nears £2.5m”
Fieldfisher today (26 July) confirmed a ninth consecutive year of growth, showing a solid 15% firm-wide revenue increase to £330m. Profit per equity partner (PEP) at the firm was even more buoyant, topping the £1m mark for the first time as it jumped 22% to £1.05m.
At a UK level, the firm recorded a 17% rise in turnover across its London, Manchester and Birmingham offices. The Germany practice was similarly prosperous, posting a 16% rise across the year. The Silicon Valley office, which opened in 2012, also grew in both revenue and headcount. Continue reading “Fieldfisher sees 15% turnover growth as PEP tops £1m”
Eversheds Sutherland had its transactional divisions to thank, as the firm’s corporate practice turned in its ‘best ever year’ to help achieve rocketing profits.
Profit per equity partner (PEP) jumped a considerable 26% from £984,000 to £1.2m, surpassing the £1m barrier. Net profits increased a similarly pacey 23% to £150.3m, while revenue was up 8% from £629m to £678.4m. Continue reading “Fire up the engine: Transactional boom fuels bumper year for Eversheds Sutherland”
Bird & Bird is celebrating its 30th year of consecutive revenue growth, adding 10% to its top line to £445.6m in 2021/22, up from £405.6m last year. In euro terms, this is a 15% hike to €525.3m from €455m last year.
The tech-focused firm’s net profit is also up by 22%, while PEP is up 11% to €767,000. This is the second year of rebounded growth after a dip in 2020 profits. Meanwhile, it reported net cash of €1.6m, up from net debt of €10.4m and €30.7m as of 30 April 2021 and 2020 respectively. Continue reading “‘Supercharged’: Bird & Bird reports robust revenue and profit growth”
DWF has lived up to its financial promises from last year, as acquisitions and a structural overhaul underpinned respectable growth.
DWF’s organic revenue, which does not factor in last year’s buyouts of compliance training company Zing 365 Holdings and Barnescraig & Associates, a Canadian insurance claims and loss adjusting business, was up 4% from £338m to £350m. Overall revenue was also up 4%, from £401m to £416m.
Continue reading “Acquisitions pay off for DWF as firm reports striking 21% profit hike”
CMS is the latest cab off the rank in unveiling its financial results, today (21 July) announcing global revenues of €1.746bn, a healthy 18% hike over 2021/22. The UK top line also saw solid growth, rising 14% to £644m.
The numbers make the firm one of the few to see greater growth in the last 12 months than in 20/21. Last year, the UK business was only able to muster a negligible £1m revenue rise, while the global figure was up 3%. Continue reading “Financials 2021/22: CMS rebounds from quiet year with double-digit revenue growth”
