The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. 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.
Burges Salmon has reported a £5m increase in net funds for the 2012/13 financial year, with profit and turnover both rising despite the cost of new London offices.
The firm’s LLP accounts showed an increase in net funds from £13m in 2011/12 to £18.2m last year, as well as confirming the firm’s 3.8 per cent turnover rise from £71m to £73.7m (26 July 2013). Net profit for the LLP rose by 6.4 per cent, from £24.9m to £26.5m.
Burges Salmon increased its provision for the reinstatement of fixed assets by £400,000 during the year, due to the unwinding of a discount on existing provisions and the creation of a new provision for its New Street Square office in London. The firm has no bank borrowings.
The accounts also show that the highest profit share paid to a partner last year was £510,000, up 2.6 per cent from £497,000 the previous year. However the average profit per member dropped by 2.2 per cent, from £371,000 in 2011/12 to £363,000 last year.
There was a bigger fall in the average pay for salaried LLP members. Their pay dropped from £323,000 in 2011/12 to £267,000 in 2012/13, a fall of 17.7 per cent. Information provided by Burges Salmon for The Lawyer UK200 2013 shows that the number of salaried partners at the firm rose from 13 in 2011/12 to 19 last year, while the number of equity partners increased from 54 to 56.
Overall, staff numbers at Burges Salmon rose by six in 2012/13 compared to the previous year, nudging above 500 people to 503. Staff costs went up by 3 per cent, from £25.1m to £25.9m. s