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.
Dundas & Wilson experienced a 20 per cent drop in average profit per equity partner over the past financial year, but continued to operate with a relatively high profit margin.
Equity partners on the entirely merit-based remuneration system made an average of £308,000 in 2008-09 compared with £385,000 the previous year.
The profit margin stands at 37 per cent, a slight fall from the previous year’s profit margin of 41 per cent.
The firm is one of a small number in the UK 200 to operate a full equity partnership.
Joint managing partner Alan Campbell said: “We went into the financial year well aware that the trading outcome was likely to be uncertain. We’re quite cost-aware, we manage our bottom line quite effectively and have an efficient business.”
Turnover dropped by 12 per cent, from £74.8m to £66m, with property and corporate the most important practice areas.
Dundas made 43 redundancies over the past financial year, the costs of which were absorbed during that period.