UK Top 50
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2012-13 case studies: Macfarlanes
By Legal Week | August 1, 2013
Macfarlanes defied the depressed UK and European markets this year to record its second set of strong financial results in a row, with revenue up by 11.6% and profits per equity partner (PEP) increasing by 9.5% for 2012-13. Revenue at the top 30 firm climbed from £102.3m to £114.2m with PEP rising from £903,000 to £989,000 - within touching distance of the £1m landmark the firm achieved during the credit boom. The figures follow another successful performance in 2011-12, when revenue grew 7.9% and PEP was up 20.1%. However, Legal Week's five-year comparison shows that the firm is still rebuilding its profitability following the downturn, with PEP remaining 10% below the £1.1m achieved in 2007-08 and revenue up just 4%.
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2012-13 case studies: Freshfields
By Legal Week | August 1, 2013
Buoyed by the feelgood factor surrounding its sponsorship of the Olympic Games last summer, Freshfields Bruckhaus Deringer has moved into second place by revenue in the Legal Week top 50, leapfrogging both Allen & Overy and Linklaters courtesy of a 7.2% hike in revenue to £1.22bn. It also posted a healthy increase in profits per equity partner (PEP) of 7.6% to £1.398m, widening the gap between arch-rival Linklaters, which managed a 5.9% increase in PEP to £1.313m.
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UK top 50 push combined revenues past £13bn as PEP growth falters
By Charlotte Edmond | August 1, 2013
The UK's top law firms have achieved a third consecutive year of growth despite the continued unsettled economy, with combined revenues for the 50 largest firms forcing their way through the £13bn mark. Legal Week's 2012-13 results show that total revenues across the top 50 law firms grew almost 5% on the previous financial year to hit £13.54bn, while average income growth across the group stands at 6.9%.
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2012-13 case studies: RPC
By Legal Week | August 1, 2013
RPC continued to defy the economic turndown in 2012-13 with its second consecutive year of double-digit revenue growth. Amid mixed results from top 50 rivals, RPC was a standout performer, posting a 7.5% increase in profits per equity partner (PEP) and a 21.8% hike in turnover, pushing it up seven places in the rankings to 42nd place. The firm's upward curve stems back to an aggressive five-year plan laid out in the wake of the 2008 collapse of Lehman Brothers. The plan, which saw partners and staff unanimously commit to heavy investment, including international expansion, strategic recruitment and modernised infrastructure, has seen the firm's top line leap from £57.9m in 2007-08 to £82.1m, while PEP has grown by almost 25% from £301,000 to £373,000 over the same period.
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UK top 50 push combined revenues past £13bn as PEP growth falters
By Charlotte Edmond | August 1, 2013
The UK's top law firms have achieved a third consecutive year of growth despite the continued unsettled economy, with combined revenues for the 50 largest firms forcing their way through the £13bn mark. Legal Week's 2012-13 results show that total revenues across the top 50 law firms grew almost 5% on the previous financial year to hit £13.54bn, while average income growth across the group stands at 6.9%.
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UK top 50 law firms drive profits back towards boom-time high
By Georgina Stanley | July 26, 2012
The UK's top law firms have overcome continued uncertainty in the global economy to achieve a second consecutive year of growth, while top 50 firms push partner profits back towards a boom-time high.
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DWF, Kennedys and Mishcons trump top 50 rivals with fastest five-year growth
By Pui-Guan Man | July 26, 2012
DWF, Kennedys and Mishcon de Reya have emerged as the fastest-growing firms in the UK top 50 over the past five years, according to research compiled by Legal Week.
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2011-12 case studies: Ashurst
By Friederike Heine | July 26, 2012
There is little doubt that Ashurst has been one of the worst-affected City players since the 2008-09 recession. The firm has been further weighed down in recent years by a protracted round of partner exits and a continued struggle to build upon the sizeable US structured finance practice it acquired in 2009.
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UK top 50 law firms drive profits back towards boom-time high
By Georgina Stanley | July 26, 2012
The UK's top law firms have overcome continued uncertainty in the global economy to achieve a second consecutive year of growth, while top 50 firms push partner profits back towards a boom-time high.
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2011-12 case studies: Clifford Chance
By Pui-Guan Man | July 26, 2012
Clifford Chance's (CC) recovery picked up pace in 2011-12, holding its position as the UK's largest law firm in revenue terms. It reached turnover of £1.303bn for 2011-12, and saw profit per equity partner (PEP) rise 7% to £1.078m.
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