BLG revenues up 7 per cent to £80m

BLG revenues up 7 per cent to £80mBarlow Lyde & Gilbert (BLG) has seen its turnover break the £80m-barrier, with the firm’s litigation team bringing in more than three-quarters of the revenue.

The firm, overall, increased its turnover by 7.2 per cent, up from £76.2m in 2006/07 to £81.7m in the last financial year.

BLG’s incoming senior partner Simon Konsta, in his first interview since being elected, told The Lawyer the firm is expanding in all its core areas such as insurance, aerospace, energy and trade.

Konsta said: “The Holy Grail is, of course, to couple that expansion over time with enhanced profitability and we are realistic about the challenge that represents in this increasingly competitive market place.”

BLG has not disclosed its profits per equity partner (PEP) yet. The Lawyer’s UK 200 reported the firm’s PEP as £380,000 for 2006/07. With one less equity partner compared to the same time last year it is expected PEP will have increased.

The rise in fees shows that BLG has made massive strides in the last year, as the previous year’s performance so BLG post only a 1.3 per cent increase in turnover.

The litigation practice brought in £63.7m, while corporate came in second place with revenues of £8.6m. Finance came in third with £1.3m, with property pulling in £1.2m.

BLG’s UK presence brought in £74.7m of the firm’s turnover, with the rest being split between Hong Kong, Shanghai and Singapore.