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.
Taylor Wessing has posted a UK turnover increase of 14.3 per cent for 2006-07, with the firm registering double-digit growth across all three of its core jurisdictions.
UK revenue hit £87.6m, while the firm's German and French operations both posted 20 per cent revenue increases.
Taylor Wessing UK managing partner Michael Frawley said the firm's finance group had performed particularly well, with real estate finance the standout area.
Frawley added that the firm had not yet finalised its profit, but early indications suggest that it would be hit by an increase in costs during the year, primarily associate salary hikes "in line with most firms'".
Figures for corporate were not as strong as anticipated, Frawley said, because a number of deals had not closed before the year-end.
"We're carrying around £4m more work in progress at this point in the year than last year," added Frawley.