EY Law France records turnover slump

Ernst & Young Société d’Avocats, the French arm of EY Law, recorded a 5 per cent drop in turnover for the last financial year.

Income dropped to Eu109m from Eu114m in 2004. In contrast, Ernst & Young’s French operations overall, including the audit practice, increased turnover by 6 per cent.

The drop for the legal arm comes after a voluntary redundancy programme and restructuring instituted in early 2004, which saw 85 lawyers leave the firm.

The results mean the gap between Ernst & Young and competitor Fidal widens even further. Last year Fidal made Eu250m euros, making it by far France’s biggest law firm.

Ernst & Young said that a good second half meant that it was optimistic for an increase in turnover next year.