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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.
Monckton Chambers has posted a turnover growth of 26 per cent over the past year, ;with ;commercial chancery set XXIV Old Buildings seeing earnings drop during the same period.
Monckton’s ;revenue increased from £10.5m in 2006-07 to £13.2m, with public law and human rights witnessing the largest growth at 54 per cent. The set’s senior clerk David Hockney said revenue had increased in all core practice areas, with procurement up by a fifth and competition by 17 per cent. “Investigations by and decisions of the regulators have provided a hotbed of work in our core competition law practice, but we’ve also seen tremendous growth in work levels in the procurement, ;public law and human rights practices,” said Hockney.
It was a different story at XXIV, however, with the set’s turnover dropping by 2.7 per cent, from £11.2m to £10.9m.
XXIV ;senior ;clerk Nicholas Luckman said: “Earnings remained impressive and in line with the year before. The absence of one barrister through maternity leave and the departure of another reflect the small difference in turnover, but a busy start and four new tenants will help to increase turnover this year.”
Elsewhere, Hardwicke Buildings saw income rise by 18 per cent, from £11.1m in 2006-07 to £13.1m in the last financial year. IP was the largest growth area with a rise of 36 per cent.
Hardwicke chief executive Ann Buxton said direct access work has also boosted the set’s profit by £433,000 during the past 12 months.