Hogan Lovells sees global revenues dip as PEP falls 6%
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.
Hogan Lovells saw global revenues fall by just under 2% in 2012, with London turnover dropping by more than 9%.
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