First-mover firms report average turnover growth of 7 per cent for 2011-12

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  • Isn't the Finance Director of Cameron McKenna leaving soon as well? With their attempt at a US merger, it all sounds like a bit of desperation. Might as well hoist a 'For Sale' sign and be done with it. Total missmangement of the Firm over the last 5 years.

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  • Well done DWF

    Wooden spoon Dickie Dees, CMS Cameron McKenna and Nabarro.

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  • Inflation in the UK is, in reality, around the 5% mark so any thing below that is a real terms fall.

    It would also be interesting to see a geographical break down. I suspect that many of the results above are flattered by overseas expansion.

    Finally, a big drop in GDP is on the way in Europe and North America. The can can't be kicked down the road much longer and firms should be getting ready for a collapse in turnover in those regions.

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  • As Sterling strengthens agains the Euro, Cameron Mckenna's fee income (much of which is denominated in Euros) will fall. No wonder they are looking to the US.

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  • Surely post-merger results not shown on either a like for like basis or taking into account combined pre-merger revenues are simply misleading - especially when taking such figures into account in an overall market average where in the market as a whole there isn't growth - no growth has been created the revenue has just been moved to a new balance sheet.

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  • That's a very good point.
    What would be really valuable, is for the Lawyer to publish results taking into account inflation. Then we can genuinely judge a firm's progress within the UK Top 200.

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  • Inflation would make Cameron Mckenna's income rise of 1% become a decrease of 4% then.
    And goodness knows what the decrease would actually be since 2008!

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  • Ooops,
    As a measure, inflation would mean that Dickinson Dees's finances have dropped a whopping 32% in 5 years.
    It's a bit of a rough and ready calculation, but in 2007-2008 DD posted turnover of £60m. An online inflation calculator shows that would be £67.8m today. This year they've posted £45.8m, so over 32% less than 5 years ago.
    It would be interesting to know if that is better / worse than other firms.

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  • but what cost the lateral hires who have assisted with the growth in turnover?

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