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.
Withers’ net profit margin fell to 15 per cent in the past financial year, a drop of six percentage points on the previous financial year’s figure, while average profit per equity partner (PEP) dropped by 24 per cent.
PEP at the firm stood at £273,000 at the end of 2008-09, down from £357,000 the previous year. Plateau partners received £500,000, which is £100,000 less than in 2007-08. Those at the bottom of the equity will take home £211,000 compared with £200,000 in 2007-08.
Turnover at the firm is up by 5 per cent, from £88.8m to £93.3m, with private client, family and litigation among the most significant contributors to total revenue.
Managing director Margaret Robertson said: “We’re pleased to have recorded a growth in revenues and for the coming year we’re forecasting a return to previous or higher levels of profitability.”