Trowers & Hamlins has increased borrowings from £6m to £11.3m to finance necessary investments to ensure it can remain independent. The senior leadership team told The Lawyer it wants to grow to retain and attract the best talent, but that it is not looking at a merger. The firm has instead been investing in new […]
Keystone Law’s turnover is up 14.9 per cent at the half-year point, while adjusted profit has risen by 25.2 per cent. The turnover increase meant Keystone made £42.3m in the last six months, compared to £36.8m this time last year. Adjusted profit per tax reached £5.7m. Speaking to The Lawyer, CEO James Knight said he was […]
As tie-ups continue apace in the Scottish legal market, there are still a few staunch independents that have all reported revenue rises over 2022/23. We dig a little deeper into their progress. Burness Paull and Shepherd & Wedderburn are among the firms to have reported revenue growth in the past financial year, with both steering […]
In this week’s edition: Womble Bond Dickinson invests in UK real estate, Penningtons approaches a “year of strategy”, while Fieldfisher issues a call to action.
Slaughters’ so-so year Ever the mystery – and ever staying clear of LLP status – Slaughter and May has its financials estimated for The Lawyer’s UK200. It’s the only top 50 firm we do this for, although the same will have to happen next year for Freshfields Bruckhaus Deringer, which said it would not release […]
Profit before tax at Irwin Mitchell dropped 29 per cent after an investment-heavy year, but the firm says it is still on the look-out for acquisitions and office openings. The firm’s group profit before tax dropped from £21.2m to £15m, while group revenue at Irwin Mitchell is up marginally by 0.3 per cent from £275.7m […]
The equity spread at Stewarts over the last financial year has significantly dropped at both ends, with partners at the lower end of the scale seeing profits fall by 67 per cent. Stewarts top-earner earnings also dropped from £3.4m to £1.6m, while the lower end of the rung fell from £1.8m to £592,335. This means […]
House of Brands copycats stalk Shakespeares’ strategy Shakespeare Martineau is a bit complicated to describe these days. It’s now the largest constituent part of Ampa, a ‘House of Brands’ which also includes South East firm Mayo Wynne Baxter and a bunch of other legal and non-legal services. All partners are members of Ampa’s equity rather […]
Mills & Reeve has paid its staff its highest-ever all-staff bonus as a result of the firm’s turnover reaching a record high of £147m in the 2022/23 financial year. The bonus staff receive is determined by length of service and pro-rated for people who either work part-time or joined the firm part way through the […]
CMS’s UK profit per equity partner (PEP) has dropped below £1m after it surpassed the milestone for the first time in the 2021/22 financial year. The firm reported a £1.04m UK PEP in the previous financial year, which has since dropped by 6 per cent to £977,963. CMS’s UK net profit has also suffered, decreasing 3.7 […]
Leeds-based Walker Morris has reviewed its chargeable hours target and salary offering as it closes in on its 2024 target of £70m. The independent firm grew its top line by 11.2 per cent over the 2022/23 financial year from £60.7m to £67.5m, while net profit increased by 10.7 per cent from £25.2m to £27.9m. Malcolm […]
Average profit per equity partner (PEP) has dropped for a second year at RPC, falling 14 per cent to £489,000, while net profit seen a similar percentage decline. The firm reported PEP of £489,000 over 2022/23, down from £571,000. The PEP in the previous financial year (£571,000) decreased from 2020/21’s figure of £634,000. Net profit […]