DLA LLP filings show turnover increase and £1.7m pay for top earner
DLA Piper's International limited liability partnership (LLP), which covers all operations outside North and South America, reported revenues of £619.9m during the financial year ending 30 April 2011.
February 03, 2012 at 10:34 AM
2 minute read
DLA Piper's International limited liability partnership (LLP), which covers all operations outside North and South America, reported revenues of £619.9m during the financial year ending 30 April 2011.
The confirmed turnover figure, contained in the firm's recently filed LLP accounts, is 2.5% higher than the £604.9m figure the firm released earlier this year and contained within Legal Week top 50 rankings.
The improvement on the 2009-10 turnover of £590.8m comes as operating costs dropped by almost £7m to £392.6m, with operating profit rising to £226.5m. Profit available for distribution among member climbed from £135.7m to £177.5m.
Turnover grew most in continental Europe, increasing by almost £22m to £253m, with revenues in Asia growing by nearly £3m to £60.9m. UK turnover climbed almost £5m to £290.2m.
The highest paid member in the international LLP took home £1.7m in the 2010-2011 financial year, compared with £1.6m the previous year. The number of full equity and fixed-share partners stayed broadly fell marginally to 621, comprising 183 equity members and 438 fixed share. Members' salaries stood at £41.9m.
Total staff numbers in the international LLP stayed relatively static at 4,141, with staff costs standing at £208.3m compared with £205m the previous year.
Bank loans and other borrowings dropped by more than £17m to £71.1m.
Details of the firm's accounts come as DLA Piper consults on moving its International LLP to an all-equity structure. The move is expected to see fixed share members contributing additional capital to join the full equity, with final details still under discussion.
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