The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. 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.
Richards Butler has had a tough year with average profits per partner down 7.8 per cent from £450,000 in 2003 to £415,000 this year.
Worldwide turnover slumped 5.5 per cent from £91m to £86m, but there was a glimmer of light with UK turnover rising 8.7 per cent from £57.3m to £62.3m.
Managing partner Roger Parker said: “Following three years of record results, Richards Butler has faced a challenging year along with many of our competitors. The strength of sterling has impacted on our gross figures.”
The firm has suffered in Asia following the Sars epidemic. Richards Butler has one of the strongest Asian practices of all UK firms. Its Hong Kong and mainland Chinese offices contributed almost a third of the firm’s total revenues. However, this leaves the firm exposed to a volatile market.
Parker remains optimistic. He said: “There are signs of recovery in our transactional side of the business and in our Asian markets.”