The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
National firm Shoosmiths has posted a record set of financial results for 2003-04, with the firm’s profitability rising by a dazzling 67 per cent.
Turnover rose 25 per cent from £44.3m to £55m, while average profits per equity partner (PEP) leapt from £136,000 last year to £226,500. Profits now stand above 2001-02 levels, when Shoosmiths reported PEP of £193,000. The equity pool has remained steady at 35 partners, while the total partnership has grown to 72.
The results follow a disappointing 2002-03, when investment in the firm’s Birmingham office saw profits slump by 30 per cent. However, the six-partner office, which specialises in property and construction work, is expected to break into profit this year.
Shoosmiths chief executive Paul Stothard attributed the growth to a series of client wins and tight financial management. The firm has picked up national property instructions for furniture giant Ikea, and commercial work for Thomas Cook and Danone.