Lovells posts turnover rise in last year as unmerged firm

Hogan Lovells legacy firm Lovells saw a marginal increase in turnover in the 2009-10 financial year.

Revenues rose 2 per cent to £542m, up from £531m in the 2008-09 financial year.

Lovells merged with US firm Hogan & Hartson on 1 May. When its 2009-10 turnover figure is added to Hogan’s 2009 figure the merged firm has a combine turnover of £1.2bn ($1.8bn), which elevates it above Allen & Overy in terms of revenue.

The magic circle firm posted a 4 per cent drop in the last financial year, down to £1.051bn.

Lovells has yet to finalise its average profit per equity partner (PEP) figure, although this expected to be up on last year’s figure of £586,000.

It is understood that in revenue terms disputes remains the firm’s largest practice area. The second biggest earner was corporate followed by finance.