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.
Wales-based Morgan Cole has recorded a disappointing turnover for the second year running, while achieving a second year of increased average profit per equity partner (PEP).
The firm's 2006-07 financial results show turnover has remained static at the £29.3m recorded in 2005-06, which itself was down 5 per cent on 2004-05's figure of £30.7m.
Despite this, PEP has jumped up by a healthy 15 per cent to £195,000 from 2005-06's £170,000, which was an impressive 30 per cent rise on the figure of £130,000 in 2004-05.
Managing partner Elizabeth Carr said: "We're managing our business better: there is better delegation of work and better fee rates."
Carr said that the firm had acquired higher-paying clients and was no longer doing lower-paid work for existing ones. She added that the firm has already shouldered the cost of the Bristol office that was launched this year (The Lawyer, 16 April).