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| Turnover: | £184.1m |
| Profit margin: | 39 per cent |
| Profit per equity partner: | £450,000 |
Covington & Burling grew steadily across all fronts during the year, both in revenue and number of lawyers.
The firm has swelled to 527 lawyers, from 494 the year before. The extra fee-earners helped drive revenue up to £208.8m ($380m).
The firm's key client is Microsoft, which provides a major source of revenue for Covington's international practice, which is primarily based London and Brussels.
The firm has been advising Microsoft in its long-running competition dispute with the European Commission, a matter that was still rumbling on at press time.
As M&A activity booms in the US, so Covington is likely to ramp up its corporate and financial focus. So far in 2006, the firm has advised JLG Industries on its £1.75bn ($3.2bn) merger with Oshkosh Truck Corporation and oil company Kerr-McGee on its £9.9bn ($18bn) merger with Anadarko Petroleum Corporation.
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