DLA Piper’s international partnership has reported a 4% increase in revenues for the 2015-16 financial year.
The international limited liability partnership (LLP), which covers the firm’s non-US business, has posted revenues of £768.8m for the 12 months to 30 April 2016.
The firm has also reported a 2.5% profit increase to £159.4m, and a 3% profit per equity partner rise to £693,000. For the firm as a whole, 2015-16 PEP stands at £908,000, up 2% from £890,000.
DLA Piper has changed the way it reports its results for the international LLP this year, moving from calendar year reporting to financial year reporting.
The firm has used an exchange rate of $1.53 to the pound in converting its dollar results to sterling. The exchange rate today (9 August) stands at $1.30 to the pound. It has also restated its 2014-15 figures to correspond with the new methodology.
DLA is currently undergoing a cut of UK support staff, as back-office functions are moved to its shared services centre in Warsaw. The firm is set to cut up to 200 business support jobs in the UK, amounting to up to 18% of its 1,100 UK support staff