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Continental DLA in 60% '07 fees surge

Author: Charlotte Edmond

Published: 07/03/2008 15:45

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DLA Piper’s Continental European offices saw turnover grow by 60% during 2006-07 to make up around a quarter of the firm’s revenues outside of the US.

Turnover in the offices grew by £43.6m to hit £116.6m during the last tax year, increasing their share of the firm’s non-US turnover from 19% to just over 25%.

Meanwhile, the firm’s UK arm saw its turnover grow by £30.3m to £310.2m – making up 67% of the firm’s international turnover of £460.4m, down from almost three-quarters (74%) the previous year.

The figures for the international limited liability partnership (LLP), which includes DLA Piper’s European, Asian and Middle Eastern offices, are revealed in recent LLP filings in Companies House.

Turnover for the International LLP as a whole increased by £83.1m to £460.4m, with operating profits up £27.7m to £163.9m, despite a £55.4m hike in operating costs to £296.6m.

The firm saw staff costs grow £26.4m to £164.5m, of which the UK accounted for £128.4m.

The firm saw significant staff growth as well with fee earners numbers increasing by 154 to 1551, although only 36 of the new starters were in the UK. Support staff meanwhile grew by 150 to 1987, with 79 new employees in the UK.

Equity partners increased across the network by 17 to 158 and fixed share partners by 38 to 375, although UK numbers remained static. The highest paid partner took home £94,000 more than the previous year, pocketing £1.5m at the year end.

The firm also made notable investment over the year, spending £15.9m on additions and improvements to its assets, including £4m of property, £3.8m on fittings and furnishings and £8.1m on computers and software.

Meanwhile, bank overdrafts across the group increased by £14.2m to stand at £36.3m at the year end, while bank loans rose £897,000 to £7.4m.

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