Hogan Lovells International LLP Sees Profits and Revenues Rise
The trans-Atlantic firm's international LLP accounts break down the revenues into three key regions: the U.K., continental Europe, and Asia, Pacific and the Middle East.
October 02, 2019 at 12:01 AM
2 minute read
Photo: Diego M. Radzinschi/ALM
Hogan Lovells has boosted both its revenues and profits from its offices based in the U.K., Europe, Asia and the Middle East for the year ended December 31, 2018, according to the firm's LLP accounts.
The accounts show that the firm's combined revenues across those regions rose 7.8% to £859 million from £797 million in 2017.
The international LLP accounts break down the revenues into three key regions: the U.K., continental Europe, and Asia- Pacific and the Middle East.
The firm's U.K. offices' revenues rose by 7.8% from £300 million to £323.6 million and in Europe, revenues also grew by 11% from £379.5 million to £421.3 million year-on-year.
However, the combined revenues for the Asia-Pacific and Middle East region fell by 2.8% from £118 million to £114.7 million in 2018.
As for profits before tax, the international LLP accounts show that they shot up by 10.8% from £253.1 million in the year ending in December 2017 to £280.5 million last year.
The accounts further reveal that profits available for division among the group's 224 equity partners totalled £239.1 million, which represents an average profit of £1.06 million per equity partner.
The accounts did not, however, reveal how much the top earner took home in 2018.
Meanwhile, staff costs across the international LLP offices fell by 0.6% to £226.4 million last year from £227.8 million in 2017, but they climbed by 2.2% across the group as a whole, reaching £335.4 million in 2018 from £328.2 million the previous year.
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