Mixed showing from magic circle sees DLA take step ahead as Herbert Smith Freehills merger makes impact

DLA Piper continued to expand its global business at a greater rate than the magic circle last year, according to Legal Week's global rankings, which account for revenues generated across both UK and international profit centres.

Combined revenues for DLA's international and US partnerships grew by 9.9% to £1.54bn for 2012, 50.7% of which came from the international partnership, which includes UK revenues. Global lawyer headcount grew 13.9%, while partner numbers fell 2.7%.

The results consolidate the firm's status at the pinnacle of the global revenue rankings for UK firms, ahead of second-placed Clifford Chance, which recorded a 2.5% fall in revenue to £1.27bn.

"Using our international and UK offices we can ensure we have the right people with the right skills doing the right job at the right price and in the right place, which still achieves a return for the firm," said DLA co-CEO Sir Nigel Knowles (pictured). 

"Competitors that operate out of one base in London are only able to compete on price and that is the road to ruin."

Elsewhere, revenue at newly merged Herbert Smith Freehills grew 38.5% to £665m in 2012-13, as a product of the Anglo-Australian merger last October.

The combined figures – which see the firm edge out Ashurst for ninth place – are extrapolated from revenues of £471.2m for the seven months post-merger. Revenues at Ashurst's global operations – which include takings of A$392m (£235.2m) in Australia – fell 4.7% to £558.7m.

The legacy Norton Rose Group took in £845.3m during 2012-13, ahead of its 1 June merger with Fulbright & Jaworski, representing a 2.8% increase on 2011-12 earnings. UK partnership revenue accounted for £369m – or 43.7% of total takings. Next year, Norton Rose Fulbright looks set to become the seventh top 50 firm to break through the £1bn barrier, with current combined fee income of approximately £1.25bn.

CMS saw revenues grow 5.1% to £679.3m in 2012-13, around one quarter of which was attributable to the UK-headquartered CMS Cameron McKenna partnership.

Taylor Wessing's total global revenues grew 7.3% last year to £228m. The UK business accounted for 45.8% of revenue (£104.5m), while the firm's EMEA and Asia-Pacific operations took 48.9% (£111.5m) and 5.3% (£12m) respectively.

Click here for the top 20 UK firms by global revenues for 2012-13

Related:

 Legal Week's iPad app: