find the latest legal job
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Adelaide CBD · Join a leading Adelaide commercial law firm
View details
Freelance Project Finance Lawyers
Category: Other | Location: All Australia
· Vario are looking for freelance lawyers with experience in project finance ideally within the renewable energy sector
View details
Vario Freelance Lawyers
Category: Construction Law | Location: All Australia
· We are looking for lawyers who appreciate the endless possibilities that a freelance career can offer.
View details
Freelance Construction Lawyers
Category: Construction Law | Location: All Melbourne VIC
· We are looking for construction lawyers who appreciate the endless possibilities that a freelance career can offer.
View details
Banking Associate - 1-6PQE - Allen & Overy
Category: Banking and Finance Law | Location: United Kingdom
· Banking Associate - 1-6 PQE - Allen & Overy
View details
Firms announce shock revenue

Firms announce shock revenue

Two major law firms have announced massive profits, despite the global economic downturn.

SOME positive news from the UK, where two major firms have reported profit increases in the past financial year.

City firm Bird & Bird has reported a 30 per cent jump in revenues, buoyed by the firm's recent expansion and the strength of the Euro, while Mills & Reeve has reported a seven per cent revenue hike.

Bird & Bird’s revenues grew from £144m (AUD$288m) in 2007/08 to £186m (AUD$370m) for the year ended 30 April 2009. However, profit per partner (PEP) fell by nearly seven per cent over the same period.

The firm said that its recent expansion accounted for a nine per cent increase in revenues, with organic growth accounting for 12 percent.

At Mills & Reeve average PEP increased two per cent from £295,000 (AUD$590,000) up to £301,000 (AUD$602,000) however, revenue was up only a little over £4m (AUD$8m).

Mills & Reeve managing partner, Guy Hinchley, said the firm benefited from having a more unusual practice area mix that combines a private client and corporate client base.

“We’ve been able to avoid the level of exposure to the market conditions that other firms have been subjected to.”

Like this story? Read more:

Book commemorates diamond milestone for WA law society

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

Firms announce shock revenue
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Jan 23 2018
Disrupting traditional archiving and storage methods
Promoted by Fileman TRENDS COME and go but technology and its disruption to the legal landscape h...
Scales of Justice
Jan 23 2018
WA to close ‘legal loophole’ on gender reassignment laws
Laws in Western Australia will soon change to permit married people to undergo gender reassignment s...
Lawyers take to Twitter to share career stories
Jan 22 2018
Lawyers take to Twitter to share career stories
The #mypathtolaw hashtag has been embraced by legal eagles to swap stories with the Twitter communit...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...