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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.
Pinsent Masons saw its turnover increase by 4 per cent on a like-for-like basis in the 2011-12 financial year with that figure jumping to almost 39 per cent when turnover from merger partner McGrigors is added in.
Turnover for Pinsents alone was £221m, according to unaudited results, up from £212.7 in 2010-11. McGrigors, which operated a September year-end before the merger, pulled in around £74m in fee income in the full year to September 2011, making combined revenue £295m.
According to managing partner David Ryan, Asia was the firm’s best performing region, posting a revenue increase of 30 per cent on last year, while the Gulf office increased revenue by 15 per cent. The UK also grew, but only by 2 or 3 per cent.
The firm has not yet released profit or average profit per equity partner figures (PEP). In 2010-11 average PEP at the firm was £400,000.
In a statement, Ryan, said: “Our results show that we’re continuing to perform strongly in a difficult market. The continued investment in our staff and infrastructure has increased our ability to respond to changing client demand. The merger with McGrigors built on this, and as a combined firm we’re in a strong position for growth in the coming years.”
Pinsents merged with Scottish firm McGrigors on 1 May, creating a firm with more than 1,500 lawyers (6 February 2012).