DLA Piper saw its global revenue break through the $2.5bn barrier for the first time last year as turnover increased by 2.5 per cent, from $2.478bn to $2.54bn ($1.81bn).
The firm’s global revenue has failed to surpass $2.5bn for a number of years. During the 2013 calendar year DLA’s global revenue inched up 1.7 per cent from $2.44bn to $2.48bn.
Although turnover increased marginally the firm’s net profit fell by 9.2 per cent to $605.5m (£483.5m). Due to the firm shrinking its equity partnership average profit per equity partner grew by 5.4 per cent, from $1.49m to $1.57m.
In February DLA opened its third office in the Nordic region after merging with Finnish firm Peltonen LMR. The firm now has over 200 lawyers across its three offices in Finland, Norway and Sweden.
In an attempt to boost DLA’s presence in the region the legacy Peltonen LMR team will “integrate more closely” with the firm’s existing Swedish office.
In the UK DLA recently struck a deal with agile working provider LOD (Lawyers On Demand). The move allowed DLA to provide its clients with a flexible resourcing capability, which will draw from DLA’s alumni of lawyers.
Although the deal will initially run in the UK it is understood that DLA will extend the agile working offering to other jurisdictions. This may be made easier for the international firm when LOD merges with Australian agile working provider AdventBalance.
Post-merger the firm will have 600 lawyers and hold seven offices across London, Brisbane, Hong Kong, Melbourne, Perth, Singapore and Sydney.