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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.
Mayfair firm Forsters has posted a 13 per cent rise in turnover for the 2011-12 financial year.
Revenue at the firm, which focuses on property and private client work, was £28m for the year ending 31 March 2012, up from £25m in 2010-11 (or £24.72m, according to its LLP accounts). Profit per equity partner (PEP) was also up, from £363,000 in 2010-11 to £403,000 in 2011-12. Likewise, earnings per partner (EPP) rose, by 14 per cent to £311,000.
According to Forsters’ LLP accounts, the firm’s highest paid partner in 2010-11 took home £452,059 up from £360,000 in 2009-10.
In a statement, managing partner Paul Roberts said: “These are excellent results and we’re particularly pleased to have achieved double-digit growth for the second year in succession. This means that during a two-year period, revenue has increased by 25 per cent and PEP and EPP are both up by over 30 per cent.
“In 2011-12 every part of the business increased fee income with particularly strong growth in the litigation team, which was 30 per cent up and enjoyed its best-ever year and also from planning and construction. The property business was up by 15 per cent, which was an impressive performance given a general lack of activity in the property market.
“Given uncertain market conditions, we’re cautious about the prospects for growth in the next 12 months but we’re confident about the long-term prospects for Forsters.”
In 2010-11 Forsters placed at number 87 in The Lawyer’s UK200 ranking of firms by turnover.
Yorkshire firm Gordons became the first firm this year to post its results, showing a 9 per cent rise in turnover (1 May 2012).