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.
Is SNR Denton slimming down before its big day? The firm’s UK LLP accounts certainly tell the story of a firm that’s been canny with its finances as a working date for the tie-up between SNR Denton, Salans and Fraser Milner Casgrain finally emerges.
In a slow transactional year where revenue dropped 5 per cent to £144.8m, SNR Denton’s costs fell and pre-tax profit rose nearly 40 per cent. As The Lawyer first reported in 2012, the firm’s average profit per equity partner (PEP) was up too, from £232,000 to £350,000.
SNR Denton’s UK LLP profit hike comes from a low base. PEP dropped 35.6 per cent and net profit fell 37 per cent in 2010/11, according to the previous year’s accounts.
Either way, news of the firm’s leaner physique comes as 1 March emerges as the working date for its merger with European firm Salans and Canada’s Fraser Milner Casgrain, although partners will remain in their existing LLPs for a while.
The firms had all said that the thing would go live in 2013, but as January rolled on without so much as a peep, we had started to wonder. Talk about delayed gratification.
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