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
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 reported fee income of £225m for the first half of the 2007-08 financial year, a rise of 10 per cent on last year’s figures.
At the half way stage last year the firm reported a year on year rise of 4 per cent. While this year’s growth figure is a significant improvement on that, Lovells’ gains are still some way behind other firms’. As reported in The Lawyer (5 November) Herbert Smith has been leading the way so far, reporting a 25 per cent rise in turnover compared with the same period last year.
According to Lovells managing partner David Harris the firm’s corporate, commercial and real estate pratices have driven overall growth with dispute resolution and capital markets also putting in a robust performance.
“The credit crunch is creating real opportunities for the counter-cyclical sides of our practice, particularly dispute resolution and BRI as well as capital markets,” said Harris.
"Our exposure on highly leveraged and more speculative transactions is relatively low so we see client work with a strong strategic underpinning continuing without much disruption, especially in the corporate, commerce and real estate sectors. Our counter-cyclical strength and international reach means we expect to see changes in the economy working in our favour."