SNR Denton posts first combined results with H1 revenues up 11.5%
SNR Denton has seen global fee income for the six month period ending 30 October increase by 11.5%, with legacy Dentons Wilde Sapte's operations in the EMEA LLP seeing a slight drop in fee income.
November 28, 2011 at 12:33 PM
3 minute read
SNR Denton has seen global fee income for the six month period ending 30 October increase by 11.5%, with legacy Dentons Wilde Sapte's operations in the EMEA LLP seeing a slight drop in fee income.
The transatlantic firm, formed by the merger of Dentons and Sonnenschein Nath & Rosenthal in September last year, said combined revenues from its US and European revenues stood at £317.2m ($512m), compared with an equivalent figure of £280.7m in pre-merger H1 2010.
The firm declined to reveal figures for individual markets but said that UK fee income was up compared with the same period last year, while the wider EMEA LLP saw a slight decline in fee income due to poor trading in the politically unstable Middle East and Africa region.
On the whole, the firm said that its UK, US and CIS practices all saw improved collections on the same six months in 2010, with its TMT, corporate and infrastructure practices performing particularly well.
It said UK and US income increased over the period due to cross-selling resulting from the merger.
The figures mark the first time SNR Denton has presented joint financial results since the merger. The US arm operates to a calendar-year basis, with the EMEA arm operating to a 30 April financial year end. The firm operates two separate profit pools for each partnership. It said it was unlikely to align the financial years due to tax and accounting reasons.
Commenting on the six-month period, global chief executive Elliott Portnoy said: "Income was up in the UK and US because of increased cross-selling between the practices which has seen us win new clients as well as mandates and appointments we definitely would not have had it not been for the combination."
EMEA LLP chief executive Matthew Jones added: "Region by region, the Middle East and Africa was not great because the market was very unstable there during the time period. However, for the next six months in the EMEA region we are comforted by new mandates and a strong pipeline of work, so we believe in quite a positive outlook going forward."
The news comes as a majority of UK firms have reported increased fee income at the half-year stage. Most recently Simmons & Simmons joined the crowd by reporting a 6% fee income rise to £124.8m while Stephenson Harwood collected £51.4m, marking a 4% increase.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllBird & Bird Steers Katjes in Bittersweet Dispute with Lindt & Nestlé Over Vegan Chocolate Patent
Hong Kong Bourse Seeks Feedback on IPO Price Discovery, Takes Steps to Boost Capital Markets Activity
Big Four Japanese Firm Mori Hamada Launches Foreign Joint Law Enterprise, Joins Rebrand Drive
US Wins Trade Dispute with Mexico Over Genetically Modified Corn
Trending Stories
- 1Tuesday Newspaper
- 2Judicial Ethics Opinion 24-85
- 3Decision of the Day: Administrative Court Finds Prevailing Wage Law Applies to Workers Who Cleaned NYC Subways During Pandemic
- 4Trailblazing Broward Judge Retires; Legacy Includes Bush v. Gore
- 5Federal Judge Named in Lawsuit Over Underage Drinking Party at His California Home
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250