Dentons posts 9% PEP drop for UK arm as revenues inch up
The firm's profit per equity partner has fallen to £481,000 at its UK, Middle East and African partnership
July 03, 2017 at 12:12 PM
2 minute read
Profit per equity partner (PEP) at Dentons' UK, Middle East and Africa (UKMEA) limited liability partnership fell by 9% in 2016-17, the firm announced today.
The fall takes PEP for the 161-partner UK business's last financial year down to £481,000 from £530,000 in 2015-16, when it rose by 6% from the previous year.
According to the unaudited figures released today, revenue for the global giant's UKMEA arm rose by 1% to £166m in 2016-17.
Jeremy Cohen, Dentons' CEO for the UKMEA region, said: "We are pleased to have recorded a fourth successive year of revenue growth, which has been achieved against the backdrop of some pretty volatile trading conditions in our core UK market.
"Key highlights over the past year include appointments to 18 global panels with a significant UK component, demonstrating the progress we are making capitalising on the opportunities presented by the firm's international platform. We also secured a number of important UK panel appointments, including being one of only 12 firms appointed to Tier 1 of the central government general legal services panel, following a very competitive tender process."
Cohen also highlighted the firm's corporate, fund finance and financial services disputes practices as strong contributors to the results.
Dentons has sealed a number of international mergers in recent months. In November 2016, it established a presence in Central America with the launch of Dentons Munoz through a tie-up with Costa Rica-based firm Munoz Global – a move that gave the firm bases in Panama and Nicaragua.
This May, it announced its intention to launch in Peru and Brazil through proposed strategic alliances with Brazilian firm Vella Pugliese Buosi Guidoni and Peruvian law firm Gallo Barrios Pickmann, respectively. In the same month, it also launched in Myanmar by acquiring a seven-strong local team from Livingstons Legal.
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