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.
Watson Farley & Williams has announced modest year-end results with average profit per equity partner (PEP) rising by 9.3 per cent to £390,000.
Turnover at the top 50 firm for the 2004-05 financial year increased by 8.6 per cent from £45m to £48.9m, while revenue per fee-earner jumped by 3.7 per cent from £298,000 to £310,000.
Net income grew by a very impressive 19.6 per cent from £17m to £20.3m. Meanwhile, top of equity at the 57-partner City firm is expected to jump from £620,000 to more than £700,000, while bottom of equity has remained static at £150,000.
Managing partner Michael Greville said: "This is the most profitable year the firm has ever had although it's a shame that [PEP] didn't reach the magic £400,000 mark."
As reported in The Lawyer last week (16 May), a growing number of firms, including Addleshaw Goddard, Nabarro Nathanson and Olswang, are now inhabiting the £400,000 PEP band.