Fladgate has kicked off the 2013/14 financial reporting season by posting a 16 per cent rise in turnover, with total revenue hitting a record £32.6m. The firm has also reported a provisional 29 per cent increase in average profit per equity partner (PEP), taking PEP from £406,000 to £524,000. Fladgate’s chief operating officer John Goreing […]
TLT has targeted a 60 per cent rise in revenues with the aim of producing annual turnover of £80m by 2017 after re-electing managing partner David Pester for a fifth consecutive three-year term with effect from 1 May. Partners endorsed Pester’s continuing leadership in an uncontested election, which according to the firm kicked off in February […]
The UK’s top 20 firms by revenue are gearing up for the recovery, with most expecting to see a turnover increase of at least 5 per cent for the year ending April 2014. The expected revenue rise is in line with figures for the first six months of the current 2013/14 financial year, when firms […]
French giant Fidal is focusing on building up its cross-border capabilities in a bid to change clients’ perception of the former accountancy-tied firm. Fidal has merged its two Paris bases into a single office, joining up its ‘international’ team and its ‘Paris’ team – which formerly worked out of separate buildings on opposite banks of […]
Litigation powerhouse Quinn Emanuel Urquhart & Sullivan has dropped out of The Lawyer’s annual top 30 international firms in London table this year following the resolution of two of its largest cases during 2013 and a reduction in UK turnover of 28 per cent. The London office of Quinn Emanuel saw total turnover drop by […]
Herbert Smith Freehills (HSF) has come top of the charts of UK firms ranked by debt in new data compiled by The Lawyer. Last year the firm reported a net debt of £124.9m in its global LLP accounts, more than any other firm that filed accounts in the UK market for the 2012/13 period. HSF’s […]
Debt can kill a firm but it can also fund ambition. Our first-ever market snapshot shows firms in the UK 200 getting into it in a big way “Theorist Nicholas Nassim Taleb says that if you’re financed by debt you’d better be able to predict future revenues and future volatility,” says Peter Kalis, global managing […]
Irwin Mitchell has secured a £60m rolling banking facility along with an additional £30m buffer in a joint deal with HSBC, Lloyds and Royal Bank of Scotland (RBS). The finance package replaces the firm’s existing overdraft and is committed for a four-year period initially. According to the firm’s latest LLP filing, its overdraft facility increased […]
German firm Noerr has reported market-beating turnover growth for 2013, with revenues rising from €170m in 2012 to €190.8m (£159m) last year. The 12.3 per cent increase follows a 7 per cent rise in turnover last year (13 March 2013). The firm’s German offices performed most strongly, with domestic revenue increasing by 15.2 per cent […]
Addleshaw Goddard has joined the legions of firms calling for a cash injection from fixed-share partners (FSPs) in response to HM Revenue & Customs’ (HMRC) partnership taxation crackdown. Partners voted in favour changing the firm’s partnership agreement in response to the new legislation last Thursday (20 March), meaning that 60 FSPs must make a cash […]
Undermined by leadership slip-ups, is it time firm looked outside for fresh blood? There’s nothing like a miscalculated paycheck to ruffle feathers. Particularly when it coincides with managerial mistakes and waning confidence. Perhaps that’s why few eyebrows were raised when Addleshaw Goddard managing partner Paul Devitt announced plans to resign from the top job at […]
Clifford Chance has toppled six spaces in this year’s global project finance rankings as Allen & Overy (A&O) rises to pole position with $94.9bn worth of deals. Last year Clifford Chance beat its competition in a three-year low for deal volumes and values to come out top. The firm outperformed its rivals in 2012 with […]