The gap in revenue generation between firms in the UK and Germany has widened drastically in the last five years, illustrating the enduring strength of the UK legal market compared to its European competitors. According to data comparing the domestic revenue of The Lawyer’s top 100 firms with a similar ranking published by German publication […]
Mishcon de Reya’s turnover for the first half of 2024/25 increased by 17 per cent, according to the firm. Its unaudited results show that revenue totalled £162m for the first half of the financial year. This represented growth of 17 per cent compared to the same period over 2023/24. Meanwhile, profits were £52.6m, up 13 […]
In order to remain competitive, firms are having to come up with new solutions to remunerate their star partners better – with Clifford Chance no exception. The firm is understood to have modified its lockstep, enabling it to pay its top partners in excess of £10m. The Lawyer understands that the top of Clifford Chance’s […]
Simpson Millar has recorded yet another year of losses, with turnover falling from £31.3m to £19m in the 2023 calendar year. The personal injury and clinical negligence firm last turned a profit in 2015 and made a pre-tax loss of £14.3m in 2023, its Companies House accounts reveal. After its former parent the Fairpoint Group […]
Forty-four of the UK’s top 100 law firms posted double-digit revenue growth in 2023/24, the highest number since before the great financial crisis. In 2007/08, 61 of the top 100 grew by double digits; that figure dropped to 15 the following year and nine the year after as the economy collapsed. Last year, nearly all […]
This week, a Yorkshire firm is investing to meet its staff’s new demands after doubling revenue in three years, while Walker Morris employees try a new hobby.
Five UK 200 firms posted a total turnover in excess of £2bn in 2023/24, while one topped £3bn for the first time in a year when both revenue and profit grew significantly. The top 50 firms ranked by global revenue generated a total £33.4bn last year, up by 8.4 per cent on the previous year. […]
Burges Salmon has awarded bonuses across the firm after the firm posted record revenue and net profit growth. Turnover jumped 27.1 per cent from £128.2m to £163m, while underlying net profit rocketed by 46 per cent from £34.6m to £54m. Burges Salmon’s revenue has jumped by 55 per cent since 2020 Managing partner Roger Bull […]
Mishcon de Reya’s borrowings have increased by more than ten fold over the 2023/24 financial year from £3.3m to £40m. The firm’s cash in the bank is £17.2m (down 10.2 per cent on the previous year’s £19.5m), meaning net debt at the firm stands at £23m. Speaking with The Lawyer, Mishcon’s chief operating officer Matt […]
Trowers & Hamlins has recruited a business transformation team to ensure the firm meets its 2030 revenue target of £230m, as the firm reported 5 per cent revenue growth last year. The firm generated revenue of £142.3m in the 2023/24 financial year, which means it needs to grow its top line by 62 per cent […]
Revenue growth rebounded at Howard Kennedy last year with turnover up 15 per cent to £74.4m (2023: £64.9m). The double-digit growth is the largest achieved by the firm since 2016, although it is shy of the £80m target set by managing partner Craig Emden upon his re-election in 2021. Emden said the £80m target could […]
Scottish-headquartered firm Shepherd & Wedderburn posted a 7 per cent rise in total revenue for the 2023/24 financial year, with net profit reported as having risen by 12 per cent to £30.2m. In recognition of the firm’s performance, a bonus of 5 per cent of annual salary was paid to all employees. This is the […]