find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Property lawyer - Melbourne
Category: Property Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Impressive client list, national firm · Well-led and high-performing team
View details
Senior family lawyer - Melbourne
Category: Family Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Outstanding national firm · High-calibre family law team
View details
UK firms see 13% growth in 2011

UK firms see 13% growth in 2011

The UK's law firms are finally seeing better times after a bleak couple of years.

The UK's law firms are finally seeing better times after a bleak couple of years. 

Revenues in the UK's biggest law firm look heather this year, and the most successful firms now look to international markets and global mergers to grow profits and reach new jurisdictions.

Revenues at the top 100 UK law firms rose by 13 per cent this year, reaching £15.5bn, according to the newly published Legal Business 100. 

The top 10 law firms saw an increase of average net income in 2010-11, compared to a fall in net income of 3.5 per cent for the previous year, the new figures reveal. 

DLA Piper sits in the top spot on the table, with global revenues of £1.25bn, edging it past Global Elite firms Clifford Chance (£1.22bn), Linklaters (£1.2bn), Freshfields Bruckhaus Deringer (£1.14bn) and Allen & Overy (£1.12bn).

Hogan Lovells also entered the £1bn club, with the merger between Washington DC-based Hogan & Hartson and legacy London firm Lovells now over a year old, says Legal Business 100. 

Norton Rose inched closer to this exclusive group and the top of the table after merging with firms in Australia, Canada and South Africa.

The biggest profit margin was at Slaughter & May at 49 per cent, on a turnover of £440m.

DLA Piper’s top partners earned an average of £2.5m in 2011 – up a staggering £1m from last year’s figure, and though gains at the rest of the top ten earners were more modest, only three of the highest pay packets among the top ten firms decreased.

But while DLA is the biggest UK law firm by worldwide revenue, just 22 per cent of its billings originate in the UK. By Uk billings it is just inside the top 10. 

By  breakdown of UK revenue, reports Legal Business, Linklaters is the highest earner. it booked a UK turnover of £510.4m, up three per cent from last year.

Like this story? Read more:

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

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

UK firms see 13% growth in 2011
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Aug 23 2017
NT Law Society sounds alarm on mandatory sentencing
The Law Society Northern Territory has issued a warning over mandatory sentencing, saying it hasn’...
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
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'...
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...
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 & ...