The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
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.
Addleshaw Goddard has recorded a fall in fee income of 2.8 per cent in comparison to the first half of the 2007-8 financial year.
Turnover for the first six months of 2008-09 was £94.7m, whereas during the same period last year the firm brought in total fees of £97.5m.
This year's figure was four per cent lower than the budgeted amount of £98.7m
Managing partner Mark Jones (pictured) said: "We had a reasonably strong first quarter and a reasonably weak second quarter."
Looking ahead for the full year, he said: "If we achieve last year's fee income number [of £195.4m], I'd be delighted. But I think we'll be a bit down."
The practice group with the largest amount of growth between May and October 2008 was finance and projects. This grew 18 per cent to £22m, up from £18.6m during May to October 2007.
The other practice group to experience growth was contentious and commercial, which grew by 3.9 per cent from £27.9m to £29m.
Real estate, corporate and miscellaneous income all fell over the same period. Real estate experienced the sharpest fall, shrinking by 15.8 per cent from £27.9m to £23.5m. Corporate fell by 13.3 per cent from £21.8m to £18.9m and miscellaneous fell by 7.7 per cent from £1.3m to £1.2m.