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.
Lovells has had a disappointing start to 2006-07, reporting a modest four per cent increase in turnover for the first six months of the financial year.
Revenue at the top ten City firm inched up to approximately £205m. However, Lovells’ London office posted flat half-year results for the first half of the financial year.
Lovells managing partner David Harris admitted that Lovells has “seen a different picture” to other firms.
“In headline terms our results don’t look as good as other firms. This isn’t a quick fix,” he said, “One has to be realistic about what is achievable because we’ve lost a lot of people.”
Lovells’ finance group recorded the strongest performance out of all the firm’s practice areas, reporting a jump in turnover of more than 25 per cent. The corporate practice, however, experienced a slight dip in revenue, partly as a result of the departure of the firm’s highly rated private equity practice to Weil Gotshal & Manges last May.
Harris conceded that Lovells needs to improve the performance of its corporate practice.