Law Firm News Roundup: 1st to 7th July

Welcome to the sixth edition of 'Law Firm News' from the SundayLawReview team. The aim of this column is to primarily focus on what happened in UK law firms as reported in online legal publications.

The Lawyer has reported that firms had been slow in reporting their financial results from 2011-12 with an average of 7% growth.

Law Firm Turnover 2011-12 £m Turnover 2010-11 £m
Addleshaw Goddard 170 161.9
Ashurst 322 303
Berwin Leighton Paisner 246 228.4
Bird & Bird 235 214.6
CMS Cameron McKenna 227.6 227.6
DAC Beachcrof 163.2 0
Dickinson Dees 46.1 45.5
DWF 102 83
Eversheds 366 355
Harbottle & Lewis 18.9 17.5
Herbert Smith 480 465.1
Kemp Little 8.9 7.7
Nabarro 113.4 112.6
Taylor Wessing 206 192.3
Wragge & Co 118.2 113.1

The Law Gazette revealed that while the top-ranking law firms to publish annual financial results for 2011/12 have reported average growth in profit per equity partner (PEP) of 8%, this figure masks wide variations in trading performance which have also been complicated by merger activity.

A survey by accountancy network BDO has revealed some interesting figures about firm mergers. There is a much higher chance of merger among mid-sized law firms than small practices in the coming year but the well of good merger partners is far from bottomless. Startlingly, almost one third of UK lawyers expect their firm to merge within the next 12 months, with that number rising to almost 60 per cent if the timeline is stretched to the next three years.

The most interesting articles on developments, compliance and the business of law:

News from the Law Firms: 

Saturday 7th July
  • Chicago based US law firm Fisher & Lamonica identified a lawyer and his wife as the victims of a suburban freight train derailment that collapsed a railroad bridge

Friday 6th July

 Thursday 5th July

Wednesday 4th July

Tuesday 3rd July

Monday 2nd July

We would like to thank all the publications cited in this week's 'Law firm news'. Direct links to the law firms have been included where firms had been mentioned. Please notify via @SundayLawReview Twitter handle of any errors or omissions.