Dentons' highest paid partner in UK takes home £1.3m as turnover climbs 7%
Top pay climbed 62% in 2015-16
January 25, 2017 at 06:40 AM
2 minute read
The original version of this story was published on Law.com
Dentons' highest paid partner in its UK and Middle East business took home £1.3m in 2015-16, a jump of more than 60% on the previous year's figure.
The figure is contained within audited limited liability accounts for the business, filed with Companies House this month.
The accounts show the firm's highest paid partner took home £1.3m last year, up from £800,000 the previous year, with the increase coming as net profit climbed 12% from £41.6m to £46.7m, with operating profit climbing 11% to £47.2m in 2016.
Total turnover edged up by 7% from £157m in 2015 to £169m in 2016, a figure that would put the business into the top 25 UK firms by revenue.
Staff costs rose slightly from £74m to £78m, as total fee earner numbers increased from 408 in 2015 to 435 last year. Total staff at the firm increased from 858 to 899.
Member's remuneration charged as an expense increased by 13% to £43.3m, with an increase in the average number of members from 118 to 124.
The accounts also show that Dentons reduced its overall debt to £1.6m, compared to £3m in 2015.
The accounts encompass the firm's operations in Abu Dhabi, Amman, Cairo, Doha, Dubai, London, Milton Keynes, Muscat, Riyadh, Tashkent and Watford.
Dentons has continued to expand internationally during the past 12 months. Earlier this month, it continued its push into the Latin American and Caribbean markets by expanding its web of verein-style partnerships to Monterrey in Mexico.
The new office, which opened on 9 January, combines the Monterrey firm Canales Zambrano & Asociados with Mexico City's Dentons Lopez Velarde. The latter, launched last year, is a partnership between Dentons and the firm of Rogelio Lopez Velarde.
Its union with Australia's Gadens formally completed in December 2016, while in the previous month it announced it is set to move into the Central American market through a tie-up with Costa Rica-based firm Munoz Global, a deal that will also see the international firm gain bases in Panama and Nicaragua.
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