CMS has recorded a 6.2 per cent rise in its global revenue from €1.746bn to €1.862bn, far shy of the previous year’s results when firmwide revenue soared by 18 per cent. The firm’s UK growth faired marginally better, increasing by 6.4 per cent to £686m. In 2021/22, the firm’s UK revenue climbed by 13.6 per cent. […]
All hail Hill Dicks “It’s back to business as usual,” comments one managing partner on the fog that has descended on baseline profits at the latest financial year-end. Revenues may be ticking upwards, but after the boom induced by the cost-cutting pandemic comes a bottom-line lull boosted by rampant inflation. For insight on the trends […]
Revenue, net profit and average profit per equity partner (PEP) at Stewarts all took a hit last year, after the firm smashed several records the year before. Stewarts’ revenue fell below £100m after the litigation firm surpassed the milestone in 2021/22. The firm reported a 25 per cent loss from £115m to £85.1m, while net […]
Addleshaw Goddard increased revenue by 18 per cent from £377m to £443m last year, with the firm’s non-UK income having grown significantly. In the UK, the firm upped its top line by 14 per cent, but this was not nearly as impressive as the 43 per cent growth experienced in the Middle East. The firm […]
Bird & Bird’s digital focus helped the firm turn over 10.8 per cent more in revenue last year, growing from £446.8m to £495m. Net profit also steadily increased, rising by 8.4 per cent in sterling from £100m to £108.4m (or a 6.8 per cent rise in Euros). However, profit per equity partner (PEP) remained flat, […]
Revenue at Dentons is up by 2 per cent across the UK, Ireland and Middle East (UKIME), bringing the firm’s total revenue for the region to £265.1m. The small uptick was attributed to the firm choosing to focus its energy on activating and executing its five-year strategy, which it launched last year. The plan includes […]
Firmwide revenue at Charles Russell Speechlys (CRS) rose 8.7 per cent last year, driven mostly by the non-UK contingent. The firm grew its top line to £193.7m, but while UK revenue was up by 6 per cent, turnover outside the UK jumped by 18 per cent. CRS’ financials follow what is fast-becoming the trend of […]
Firmwide revenues were up by 9.2 per cent at TLT last year, but soaring inflationary costs relating to people and property meant underlying net profit dropped for the first time since 2020. The firm broke through the £150m barrier to put revenue at £157m for 2022/23. But while revenues are up, net profit fell by […]
Clyde & Co experienced double-digit revenue growth last year as PEP held still in the firm’s first full financial year since its merger with BLM. The firm’s revenue increased by 20 per cent during the last financial year, rising from £650m to £788.6m. The post-merger firm was anticipated to generate £740m in global turnover. Just […]
While other law firms saw profit flatline last year, Capsticks experienced strong double-digit growth, allowing it to invest in technology and key growth areas. Revenue grew 14 per cent from £56.1m to £63.7m in the 2022/23 financial year, while net profit jumped up 22 per cent from £10.6m to £12.9m. Capsticks senior partner Rachael Heenan […]
Diversification can be a risk too While Kingsley Napley (KN) recorded a 10.8 per cent rise in its revenues, its net profit took a hit in 2022/23, with the firm seeing a 31.7 per cent drop, from £6.3m to £4.3m. Data from The Lawyer’s UK 200 reports show that the firm’s net profit has been on […]
Stakeholders want “greater transparency not less”, the former head of Freshfields Bruckhaus Deringer’s human resources team has said in response to the firm’s decision not to release its financial results next summer. On LinkedIn, Kevin Hogarth, who was the firm’s human resources director between 2008 and 2016, said he read Freshfields’ news with “mixed emotions”. […]