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.
LG’s turnover dropped 9 per cent in the 2010-11 financial year while average profit per equity partner (PEP) fell by 10 per cent over the same period.
Turnover at the firm fell from £64.9m in 2009-10 to £59m while PEP went from £460,00 to £412,000.
Net profit at the firm in 2010-11 was £15.2m, down 19 per cent on 2009-10’s £18.8m.
In the 2009-10 financial year the firm witnessed a significant bump in PEP, with the figure rising 63 per cent from £281,000 to £460,000, while turnover was up 8 per cent.
According to the firm, 42 per cent of revenue now comes from its international clients, while the Dubai office has increased revenue by 26 per cent. Corporate and real estate were the most active areas for the firm, both contributing 28 per cent of the firm’s revenue.
In a statement, managing partner Hugh Maule said: “We’re continuing to invest in our key practice areas and are confident of holding our market position in the forthcoming year with a good pipeline of deals across the firm, notwithstanding the prevailing economic conditions.”