Northwest firm posts double-digit turnover hike for second consecutive year; RPC revenues grow 4%

DWF and Reynolds Porter Chamberlain (RPC) have joined the growing ranks of UK law firms to announce positive financial results for 2010-11, with both seeing revenues grow over the past year.

DWF, which broke into the UK top 50 last year on the back of a 17% turnover hike, has again posted a double-digit increase, with fee income growing 15% to £83m.

The northwest firm also saw profits per equity partner (PEP) rise 17% to £390,000 as a result of a 35% increase in net profit to £12m, alongside a 31% increase in partner headcount from 120 to 157.

Despite a 7% drop in revenue in private client, the firm saw growth in corporate, which was up 34%, as well as insurance (18%), finance and restructuring (16%), litigation (13%) and real estate (6%).

Managing partner Andrew Leaitherland (pictured) commented: "This is another set of great results and I am particularly pleased that our sector groups have grown so rapidly, reflecting our expertise in the markets in which our clients operate."

He added: "Our strong growth in areas worst hit by the recession, such as corporate and real estate is testament to the efforts of all our people."

Meanwhile, RPC, which currently sits just outside the UK top 50, saw revenue grow by 4% during 2010-11 to £61.8m, while PEP rose 1% to £327,000. Revenue per lawyer also increased by 4% to reach £314,000, up from £302,000.

Managing partner Jonathan Watmough said: "It's a good result in continued difficult trading conditions, and is a great credit to some excellent teamwork."

RPC has made a number of notable hires so far this year, including SJ Berwin outsourcing head David Meredith and former Barlow Lyde & Gilbert chief executive Clint Evans, who joined the firm last month as director of brand and talent.