| Turnover: | £211.3m |
| Profit per equity partner: | 527,000 |
| Revenue per lawyer: | £390,000 |
| Total number of lawyers: | 534 |
Howrey's revenue for 2005 rose by 9 per cent to £211.3m ($384.5m) in 2005, but the firm can expect a significant boost to that in 2006 after two mergers last year.
In January 2005, Howrey acquired Houston litigation boutique Clements O'Neill Pierce Wilson & Fulkerson. Howrey's Houston office bagged 22 lawyers from the deal and now has 90 in the southern city.
In April, Howrey launched in Paris when it merged with Cabinet Cousté & Cousté, one of France's leading biotechnology and IP firms. The deal gave Howrey its fourth European office.
The year was something of a recovery for Howrey. The previous year had seen average profit per equity partner (PEP) slip from £599,000 ($1.09m) in 2003 to just £426,000 ($775,000), although the 2003 high came on the back of a £35.7m ($65m) fee award from the settlement of a class action against several tobacco companies.
In 2005 PEP shot back up by 24 per cent to £527,000 ($960,000). As with any firm that focuses on litigation, competition and IP, profit is bound to vary, but the firm has put in long-term plans, including long-term fee deals with major clients, to try and avert such fluctuations.
On top of the Paris launch, the firm continued to grow its Brussels office. In Asia it just has the one office in Taipei, due to the strong IT sector there, which makes an office in China problematic.
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