Financial news

Financials 2020/21: RPC profits leap after bumper year

RPC’s revenue soared by 23 per cent over the past financial year, while profits rose by nearly 50 per cent. Revenue across its offices in London, Bristol, Singapore and Hong Kong offices jumped to £136m in 2020/21 from £110.1m in 2019/20. Net profit also rose by 49.7 percent from £31.7m to £47.4m. Similarly, the firm […]

DWF’s profits shoot up as Knowles eyes further M&A

DWF’s turnover recorded a double-digit increase and skyrocketing profits in the first financial year under the leadership of Nigel Knowles. The listed firm’s revenue went up by 14 per cent to £338m from £297m. Gross profit also grew 21 per cent from £142m to £171.8m. The financials paint a rosier picture when compared to the […]

Financials 2020/21: Ashurst regains momentum as PEP exceeds £1m

Ashurst has finally got its average profit per equity partner (PEP) above £1m, a figure it was on course to hit over 2019/20 were it not for the pandemic. PEP increased from £903,000 to just under £1.04m, representing growth of 15 per cent. It had fallen by seven per cent in the previous financial year […]

CC

Profit focus pays off as Clifford Chance PEP jumps 9 per cent

In its last set of financials under leader Matthew Layton, Clifford Chance has reported a 9 per cent rise in PEP, though revenue growth stalled after gains made in the previous financial year. Turnover went up by 1 per cent from £1.803bn to £1.828bn, growing at a much lower rate compared to the six per […]

Linda Woolley

Covid disruption leads to profits slump at Kingsley Napley

Kingsley Napley’s profits fell by 7.7 per cent in the last financial year, with the firm stating it will also not repay UK Government funds used to place staff on the furlough scheme. The firm reported £47.1m in revenue for 2020/21, which is down by two per cent or £1.05m on the previous year, but […]

Penelope Warne

CMS’s UK PEP edges closer to £1m

The average profit per equity partner (PEP) in the UK business of CMS has risen seven per cent in the last financial year, as the firm’s management takes steps to arrange its future working style. The firm’s PEP went up from £851,000 to £912,000, meaning it is nearing the £1m milestone. The firm’s financials showed […]

Julian Taylor, Simmons & Simmons

Financials 2020/21: Simmons’ PEP leaps to nearly £1m

Simmons & Simmons’ revenue jumped by 12 per cent from £390m to £437m during the last financial year, with the firm’s average profit per equity partner (PEP) also shooting up to just shy of £1m. This represented a 30 per cent increase in PEP from £756,000 to £980,000 the year prior, with net profit also […]

Dentons

Dentons’ revenue nudges up one per cent

Dentons’ turnover across its UK, Ireland and Middle East offices crept up by £2.1m over the financial year 2020/21. The small increase saw the firm’s revenue grow from £221.1m to £223.2m. While turnover was up slightly this year, it had however fallen by 4 per cent over 2019/20. This means it has still not managed […]

Allen Overy

A&O kicks off magic circle reporting season with PEP hike

Allen & Overy’s average profit per equity partner (PEP) has surged by 17 per cent to hit £1.9m for the first time. PEP increased from £1.63m, having dipped by nearly two per cent over 2019/20. For the last three years, A&O’s PEP has hovered around the £1.6m mark.  In line with this, profit before tax […]

Taylor Wessing records double-digit growth for 2020/21

Taylor Wessing has seen its profits rebound after a slowdown the previous year, while recording double-digit growth in UK revenue. The firm’s UK turnover went up 12 per cent from £157m to £175.5m, while global revenue rose four per cent from £356.6m to £371.3m. Meanwhile, UK net profit rose from £57.6m to £71m. The firm’s […]

HSF profits skyrocket as PEP hits £1m

Turnover at Herbert Smith Freehills (HSF) broke through the £1bn barrier for the first time in 2020/21, while the firm’s profits also soared. HSF posted a five per cent increase in revenue from £989.9m to £1.038bn, while profit increased to £366.9m. This was alongside a 28 per cent leap in the firm’s average profit per […]

Stephenson Harwood’s revenue dips to £209m

Stephenson Harwood’s turnover dipped by 1.9 per cent during the last financial year, while average profit per equity partner (PEP) bounced back to £685,000. The firm posted revenue figures of £209m for 2020/21, which was down £4m on the previous two years but eight per cent higher than previously budgeted for the firm. PEP was […]