Lovells has posted double-digit turnover growth as the euro's dramatic rise over the financial year helped lift the firm's sterling-denominated revenues. Preliminary results for the 2008-09 year show that turnover jumped from £479m in 2007-08 to £531m, representing an 11% rise. The increase is largely attributed to the strength of the euro and dollar against the pound, which Lovells estimates boosted turnover by around 10%.Profits per equity partner (PEP) fell by 11.4% from £661,000 to £585,000. The dip in profitability is likely to be reflected across the City's leading firms, with the majority yet to announce their results.
May 27, 2009 at 11:03 AM
1 minute read
The original version of this story was published on Legalweek
Lovells has posted double-digit turnover growth as the euro’s dramatic rise over the financial year helped lift the firm’s sterling-denominated revenues.
Preliminary results for the 2008-09 year show that turnover jumped from £479m in 2007-08 to £531m, representing an 11% rise. The increase is largely attributed to the strength of the euro and dollar against the pound, which Lovells estimates boosted turnover by around 10%.
Presented by BigVoodoo
Celebrating achievement, excellence, and innovation in the legal profession in the UK.
Legalweek New York explores Business and Regulatory Trends, Technology and Talent drivers impacting law firms.
Women, Influence & Power in Law Awards honors women lawyers who have made a remarkable difference in the legal profession.
Philadelphia Plaintiff litigation firm seeks an associate attorney with at least 2 years' experience to join our team handling personal inju...
Position OverviewThe United States Judicial Panel on Multidistrict Litigation is accepting applications for the full-time, permanent positio...
A prominent AV-rated Education Law firm seeks an associate with 5+ years experience. The role will primarily involve advice and counsel in ...
