Hogan Lovells saw global revenues fall by just under 2% in 2012, with London turnover dropping by more than 9%. The transatlantic firm saw revenues for 2012 decline by 1.9% to $1.633bn (£1.086bn) down from $1.665bn (£1.107bn) in 2011, with profits per equity partner (PEP) and revenue per lawyer also falling. PEP decreased by 5.8% to $1.097m (£729,900), with revenue per lawyer falling 3% to $716,152 (£476,339), with the firm blaming the decline on exchange rate differences, with profitability also affected by the cost of closing an office in Abu Dhabi.
March 01, 2013 at 10:06 AM
1 minute read
The original version of this story was published on Legalweek
Hogan Lovells saw global revenues fall by just under 2% in 2012, with London turnover dropping by more than 9%.
The transatlantic firm saw revenues for 2012 decline by 1.9% to $1.633bn (£1.086bn) down from $1.665bn (£1.107bn) in 2011, with profits per equity partner (PEP) and revenue per lawyer also falling.
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