The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
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.
Kendall Freeman had a tough year. Its turnover dropped by 8 per cent from £16.6m in the previous financial year to £15.3m in 2006-07. The firm’s average profit per equity partner (PEP) also took a hefty hit, dropping by 9.3 per cent, from £332,000 to £301,000. The downturn in the firm’s core dispute resolution and insurance markets has hit it hard. Kendall Freeman is 75 per cent litigation, of which the majority is insurance-based. However, Kendall Freeman managing partner Laurence Harris said he had seen improved levels in litigation by the end of the firm’s year in spring 2007. The firm’s figures were also hit by the significant amount of vacant space it had been operating with in its office, a legacy it has carried since its split with DJ Freeman in 2003. The costs of the vacant space amounted to £1m per year and had a dampening effect on PEP. However, Kendall Freeman has now managed to offload the excess space and hopes it will see this reflected in its results for the current financial year to the value of around £80,000 per senior equity partner.