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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.
Profits at Taylor Wessing’s UK LLP increased by almost 20 per cent in the 2011/12 financial year, according to the firm’s consolidated accounts.
The firm, which posted an international gross turnover of £212.5m, generated UK fee income of £97.4 in 2011/12, a rise of 10 per cent from £88.5m in 2010/11.
Its net assets increased to £51.7m from £42.4m and equity partners interests went up to to £30m from £24.1m over a 12-month period.
According to the LLP consolidated cashflow statement, net cash inflow form operating activities also went up in 2011/12, from £30m to £38m.
During the year there was an average of 251 fee-earners, 24 non-fee earning professional staff and 255 support staff at the firm, with total staff costs at £37m.
According to the LLP accounts, there were 100 equity partners and the highest paid member in the year took home £861,000, up from £703,000 in 2010/11.
Client debtors increased, with the firm owed £39m at the end of the financial year, compared to £32m the previous year. But the LLP posted a healthy financial position with no bank overdrafts at 30 April 2012.
The LLP paid out £21.2m in members’ drawings and distributions, plus £8.8m as members’ remuneration charged as an expense.