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.
Ashurst has reported a 35 per cent drop in profit per equity (PEP) for the 2008-09 financial year.
The silver circle firm reported a PEP of £673,000 during the last financial year, down from £1.04m for the previous year.
Earlier this year The Lawyer reported that Ashurst’s revenue had decreased by 7 per cent last year from £323m down to £301m last year (27 May).
Ashurst managing partner Simon Bromwich told The Lawyer: “This is in line with what we have been expecting for the last six months. Since Christmas we have been busier and made a lot of partner investment. This has certainly affected the PEP figure.”
In February this year the firm launched in the US, snaring an 11-partner team from McKee Nelson.
Bromwich said: “We think we have the basics right to improve profits over the next year. We are confident that the investments we’ve made will be beneficial to us over the coming year.”