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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Birmingham-based St Philips Chambers has released its last year-end figures before its merger with Three Fountain Court, showing a growth in revenue of 25 per cent to £32m in 2006. However, the turnover does not include the income of the 21 barristers, including Stephen Lineham QC and Philip Parker QC, who joined St Philips in August following last summer’s collapse of Three Fountain Court.
Jonathan Fox, St Philips’ chief executive, said: “We didn’t include Three [Fountain Court]’s revenue as we wanted to compare figures from the first half of the year, which saw a 50 per cent increase in some practice areas, with a like-for-like situation in 2006.”
The increased revenue could have been higher still if it were not for funds being ploughed back into the 171-barrister set. St Philips acquired 10,000sq ft, over two floors, of law firm Wragge & Co’s Birmingham office to accommodate its continuing expansion, and a new IT system has been installed allowing barristers to bill online and to work remotely.
Fox said: “The investment has had a knock-on effect on the business as a whole.”