Dentons has become the latest global firm to post annual results, with figures showing a small increase in revenue but a near 10% dip in equity partner earnings.
Figures for the UK, Middle East and Africa for the year to 30 April show the firm’s revenue stood at £166.4m, an increase of 1%. However, profit per equity partner dipped from £530,000 to £481,000 - a 9% decrease.
Jeremy Cohen, Dentons’ chief executive for the UKMEA region, said a fourth successive year of revenue growth had been achieved against the backdrop of ‘some pretty volatile trading conditions in our core UK market’.
He said: ’The UKMEA business continues to make good progress pursuing a strategy built around the three pillars of creating stronger ties with key clients, investing to develop a high quality lower cost platform to meet the needs of clients, and investing to grow UK market share.’
Key highlights over the past year include appointments to 18 global panels, including being one of the 12 firms appointed to Tier 1 of the Central Government General Legal Services panel.
The firm has hired 15 new partners in the last 12 months.