DLA Piper international arm pushes revenue up 3.3% to £806m
DLA Piper's international limited liability partnership (LLP) has reported a revenue increase of 3.26% to $1.28bn (£806m) for 2013, with net profit up marginally, by 0.2%, to $227m (£143m).
July 03, 2014 at 09:24 AM
2 minute read
DLA Piper's international limited liability partnership (LLP) has reported a revenue increase of 3.26% to $1.28bn (£806m) for 2013, with net profit up marginally, by 0.2%, to $227m (£143m).
The LLP, which reports figures for the calendar year in line with its US arm, also saw profits per equity partner (PEP) drop 1.3% to $1.06m (£668,000), while the average number of UK equity partners increased by only one.
The figures have been calculated based on a consistent exchange rate with the one used last year.
The results are flatter than those reported in 2012, when both revenue and PEP for the firm's non-US business saw double-digit increases.
By sector, the LLP's disputes practice accounted for 37% of turnover, with corporate and finance making up 26% and 14% respectively.
Earlier this year, DLA posted marginally improved financial results for 2013 for its global business, with fee income up by less than 2% from $2.44bn (£1.46bn) last year to $2.48bn (£1.48bn).
Profit per equity partner (PEP) was $1.32m (£790,000), up by just 1% on last year's figure of $1.31m (£784,000). But the PEP figure was aided by a drop in equity partner headcount from 461 to 454, with the firm's net profit slightly down, standing at $602m (£360m).
The firm's calculations showed that Americas were responsible for the largest turnover contribution of 48%, while the EMEA region (including the UK) accounted for 39% of turnover.
In May this year DLA promoted 45 new partners globally, in an increased promotions round. In contrast 69 staff were made redundant across UK offices last year, following the centralisation of its document production in Leeds.
Earlier this week, the firm was re-appointed to newly-reviewed Barclays legal panel.
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