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.
Bristol-headquartered Osborne Clarke has seen significant falls in both turnover and profitability during the last financial year.
The firm’s 2008-09 results show that turnover dropped by 12 per cent, from £95.3m to £84m, while average profit per equity partner plunged 36 per cent to £352,000.
Managing partner Simon Beswick put the fall down to adverse market conditions, adding: “As a strong mid-market transactions business, our results this year obviously reflect the wider downturn in the market, particularly when compared with the strong deals market in 2007-08.”
The corporate, banking and real estate practices were hit particularly hard.
However, the firm’s litigation practice was up on last year, while the employment, pensions and incentives group grew by 7 per cent.
In Europe the German office saw turnover rise to €17m (£14.58m) and now makes up 17 per cent of the firm’s total revenue.