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.
Average staff numbers at SNR Denton’s UK LLP were down almost 10 per cent in 2011/12, as costs dropped and pre-tax profit rose nearly 40 per cent.
According to the firm’s LLP accounts, the average number of employees at SNR Denton’s UK LLP – which includes its Europe, Middle East and Africa operations – throughout the 2011/12 financial year was 994, down 9.1 per cent on the previous year when it was 1,094.
Within that figure, fee-earner numbers were down from 517 to 471, while support staff numbers fell from 577 to 523. As a result, staff costs for the 2011-12 financial year were £75.7m, down from £82.8m in 2010/11.
Separately, partner numbers at the firm were also down throughout 2011/12, from 126 to 118. According to the accounts, the highest paid partner for the 2011/12 financial year received £683,000, down from £755,000 the previous year. This figure can include retirement payments, however.
In 2011/12, SNR Denton’s UK LLP also appeared to reduce its debt, with bank loans and overdrafts dipping from £22.8m to £13.2m.
The cost cutting meant that SNR Denton’s profit before tax rose 39.6 per cent, from £22.5m to £31.4m in 2011/12. The increase was in spite of a difficult trading year. In the accounts, management state that “transactional activity was low” throughout the 2011/12 financial year, with revenue down 5 per cent, from £144.8m to £152.4m.
The Lawyer reported in June 2012 that net profit at SNR Denton’s UK LLP had risen from £19.8m to £28m, while average profit per equity partner rose from £232,000 to £350,000 (19 June 2012).
In late 2012, SNR Denton agreed a three-way merger with European firm Salans and Canada’s Fraser Milner Casgrain. The firm will be known as Dentons and have no official geographical headquarters (28 November 2012).