Holman Fenwick Willan has posted a 13.8 per cent increase in its 2012/13 turnover to £141m from £123.9m in 2011/12.
HFW’s net profit also jumped by 17 per cent to £38m from £32.4m in the previous year. Average profit per equity partner (PEP), however, only climbed by one per cent from £525,000 to £530,000.
The static PEP is largely a result of the addition of 10 new equity partners for the 2012/13 financial year to 72 equity partners.
All of the firm’s equity partners took home more than the previous year with equity spread for the most recent financial year at £314,000 to £628,000 from £302,000 and £605,000 in 2011/12.
Litigation remains to be the largest practice in the firm, contributing 83 per cent of the firm’s total revenue in both 2012/13 – or £117m. The corporate contributed 12 per cent – £17m – while the finance practice added 5 per cent – £7m.
Almost all of the firm’s new partners were appointed in the litigation group, with the group housing a total of 112 partners, 14 more than 98 in the previous year.
The firm’s work force have grown across the board globally, but there is an obvious lawyer headcount reduction in the firm’s London headquarters. The head office saw a 14 per cent decrease in the number of lawyers from 220 to 189, while the number of fee-earners and the number of staff both dropped by about six per cent.
Outside of Europe, HFW has a large presence in Asia Pacific. According to The Lawyer Asia Pacific 150, the firm is ranked as the 20th largest international firm in the region with a total of 108 lawyers, including 37 partners, in six offices.