Addleshaw Goddard turnover up 11 per cent

Addleshaw Goddard has reported an increase in turnover for 2007-08 of 11 per cent, hitting £195.4m after last year’s figure of £176.7m (The Lawyer, 8 May 2007)

The biggest earner across the firm’s four divisions is the contentious and commercial group, which brought in £57.9m.

This was closely followed by its real estate group, which turned over £55.7m, with corporate turning over £41.7m, and finance and projects lagging behind at £40.1m.

In spite of the credit crunch, the strongest growing sub-group was the London banking department.

Meanwhile average profit per equity partner (PEP) has increased above the £560,000 the firm budgeted for, from £542,000 last year to £586,000 this year, a growth of 8 per cent. Last year was the first year the firm broke the £500,000 PEP mark.

Managing partner Mark Jones said that the finance and projects group and the corporate London group were identified as priorities at the beginning of the financial year.

Finance and Projects overall grew by 16 per cent, while the corporate division experienced a 13 per cent rise.

Real estate, in contrast, nudged forward by just 2 per cent, a factor that Jones put down to wider market conditions.