DLA Piper’s turnover nears $2bn mark after 17 per cent hike

DLA Piper’s global revenue edged close to $2bn (£1.09bn) for the 2006 financial year, with turnover up by 17 per cent to $1.8bn (£978.26bn).

Average profit per equity partner (PEP) was also up, rising by 14 per cent to $1.18m (£641,300). The healthy return in profit came despite the firm incurring significant integration costs.

During 2005 DLA Piper hired teams of lawyers from a number of firms, most notably Coudert Brothers, Ernst & Young and Squire Sanders & Dempsey.
These arrivals were followed last year by the integration of the 90-lawyer Norwegian practice of DLA Nordic, which has offices in Oslo and Bergen.

During last year the firm’s total number of lawyers grew from 2,850 to 3,200.
In addition, DLA Piper’s exclusive alliance of independent law firms, the DLA Piper Group, grew to include new members in Tanzania, Zambia, Ghana and Australasia.

The firm’s joint CEO Nigel Knowles said 2006 was the year when all of the acquisitions from 2005 “started to kick in”.

He added: “To do all that and still make a decent profit is, I think, a great achievement.”

The firm has also hired David Crookston from JPMorgan’s European equities division as its chief operating officer.