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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.
Ashurst turnover up 17 per cent" />Ashurst has boosted turnover 17 per cent soaring through the £300m mark with a record turnover of £323m.
In 2007 Ashurst posted a stellar 28 per cent increase in turnover, which took the firm to a turnover of £275m.
Managing partner Simon Bromwich said: “The busy first six months of the year did run on to the second half. We were busier then but we’re still busy.”
When asked which practice group generated the largest proportion of turnover, Bromwich said that it has been good everywhere and that it would be “almost invidious to pick” one practice group over another.
On the international front, however, he was more candid. “The general strategy of Ashurst is to become ever more international. We have consistently said that out of London we generate about a third of revenue. Every little change in that figure is obviously hard won but consistently, year on year, we’re nudging up the percentage of non-London revenue.”
He also added that the Middle East was “going like a train” and that great progress had been made in Singapore, Tokyo and Stockholm in the last year.
PEP figures for 2008 have not yet been calculated but average profits per partner (PEP) were at £956,000 last year, having increased by a massive 36 per cent. The firm will expect to break the £1m landmark this year.
For more on the financial results at all the top UK firms as they come in, see our Top of the PEPs 2008 blog here