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.
Penningtons has seen a continued increase in turnover and net profits this year, with fee income hitting £21.2 million and net profits rising to £4.4 million. Fee income was up a total of 14.6 per cent, with net profits rising 11 per cent. However, profits per equity partner fell from £140,000 to £120,000 after the firm last year extended its equity partnership from 20 partners to 37. Total number of partners is up by two on last year to 59. Property was the strongest performing area for the firm, bringing in approximately 35 per cent of overall fee income. Managing partner Lesley Lintott said: "This is an excellent performance in difficult trading conditions."