The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
An exhaustive analysis of the UK market including every firm in the top 200 ranked, analysed and benchmarked, UK chambers ranked by turnover, revenue per barrister and which international firms are most active in the UK.
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.