DLA Piper has recorded robust financial results in the UK, Europe and Asia for 2006-07, with the transatlantic giant today (1 June) unveiling hefty increases in both turnover and profits per equity partner (PEP).
PEP at the firm’s non-US offices soared by 18% to hit £715,000 – up from a mark of £604,000 for the equivalent period last year.
Fee income across the three regions was up by more than a fifth (21%) to reach £445m, up from £366.7m last year. The firm currently has 563 partners in UK, Europe and Asia.
The figures compare favourably with DLA Piper’s global performance for the 12 months before 31 December, 2006, when the firm posted global revenues of £911m and partner profits of £643,000.
The latest results follow a busy year for DLA Piper, which has focused the bulk of its recent growth in London and the Middle East. Notable recent hires in the capital include the appointment of Kirkpatrick & Lockhart Preston Ellis Gates local tax chief Richard Woolich and Bingham McCutchen City banking partner Sarah Coucher.
The firm also made up a record 66 new partners across its global offices this year, including 10 promotions in London.
The latest results see DLA Piper join a growing band of major UK firms to record strong financial performances for 2006-07. National rivals Eversheds and Addleshaw Goddard have already broken the symbolic £500,000 PEP mark, respectively charting average profits of £502,000 and £542,000.
How does DLA Piper measure up to the City big guns? Have your say with the Legal Week Wiki 2007 results special.
