Financial news

Bird & Bird

Bird & Bird’s PEP drops for first time in three years

Bird & Bird has seen its average profit per equity partner (PEP) drop in the financial year 2019/20. The UK firm’s PEP went down by 3 per cent from from £575,000 to £555,000, a metric that the firm had not previously reported as part of its financial results for 2019/20. It marked a fall for the […]

Keystone to resume dividends despite profits slowdown

Profits are down at dispersed firm Keystone Law, according to its interim results for the first half of 2020, as the business looks to resume dividend payments due to an increase in its revenue. The listed firm’s profit before tax was down 18.4 per cent from £2.7m to £2.2m, while its turnover grew 5 per […]

Weightmans breaks through £100m as turnover rises by 6 per cent

Weightmans’ turnover grew by 6 per cent during 2019/20, rising from £97.3m to a new high of £103.4m. Profit also increased, with gross profit up by 9 per cent from £34.8m to £37.9m and net profit rising from £10.1m to £10.35m in the 12-month period. Average profit per equity partner fell marginally from £279,000 to […]

DWF’s financials stabilise after bumpy end to 2019/20

DWF’s trading performance for the first quarter of 2020/21 has improved after a series of cost-cutting measures and international closures, while its net debt soared over the last financial year. In 2019/20, DWF saw revenue increase by almost 11 per cent, in a year in which it faced headwinds caused by the coronavirus and a […]

Financials 2019/20: Trowers loses PEP momentum with 12 per cent drop

Trowers & Hamlins average profit per equity partner (PEP) fell 12 per cent over 2019/20 while revenue inched up by 1 per cent. Revenue at the 375-lawyer firm bumped up 1 per cent, from £105.2m to £106.2m, after Trowers hit the £100m mark over 2017/18. Having reached its highest ever PEP figure over 2018/19 – […]

David Kerr

Bird & Bird profits dip for first time in three years

Profits at Bird & Bird went down by 3.4 per cent as the firm posted its 2019/20 financial results. Net profit decreased from £68.4m to an estimated £66m. It marks a fall for the first time in three years. The firm did not report its average profit per equity partner (PEP) figure for 2019/20. In the […]

Simon Ridpath

New CRS chief: “We want to focus on our reputation”

Charles Russell Speechlys new managing partner Simon Ridpath has put forward a series of objectives for his tenure, as the firm revealed a dip in profits and rise in revenue for 2019/20. In the financials, net profit and profit per equity partner (PEP) dipped by 3 and 5 per cent respectively, from £29.6m to £28.7m […]

Libson

Mishcon makes PEP gains after 5 per cent uptick

Mishcon de Reya, which shelved further discussion of a part-IPO in the latter half of 2019/20, has reported a 5 per cent increase in PEP to just over £1m. Average profit per senior equity partner (PEP) rose to £1.05m. This meant it was finally able to improve upon its £1m figure after previously hitting the […]

Stephenson Harwood revenue growth grinds to a halt over 2019/20

Turnover at Stephenson Harwood remained just above £200m for the second year running, with the firm unable to beat last year’s financial success. As part of a muted announcement for this year’s financials, the firm confirmed to The Lawyer that its revenue remained unchanged at £213m over 2019/20, which is far from last year’s 12 per […]

stacking money

DLA Piper turnover soars above £2.1bn in 2019/20 financials

DLA Piper’s revenue for offices outside the Americas surpassed £1bn over 2019/20, while global turnover crept above £2.1bn. The firm’s latest accounts show that revenue for its international LLP, which covers all offices outside of the Americas, grew from £974m to nearly £1.1bn. DLA does not specify overall UK revenue, but its London office revenue […]

Osborne Clarke growth stalls after seven years of double-digit expansion

Osborne Clarke’s UK average profit per equity partner dropped 12 per cent over 2019/20, as turnover crept up by 5 per cent. The results are markedly different to the last seven results posted since 2012/13, in which the firm has recorded double-digit percentage growth in turnover each year. Over 2018/19, turnover increased by 11 per […]

John Joyce

Financials 2019/20: Addleshaws to hold back 5 per cent of partner profits

Addleshaw Goddard’s average profit per equity partner fell 4 per cent over 2019/20, with the firm directing a small proportion of its profits into an investment reserve to stem the blow of Covid-19. The firm announced today that global revenue rose 4 per cent from £275m to £288m despite saying that Covid-19 has had “an […]