Ashurst, Eversheds and Norton Rose Fulbright were the latest top-100 firms to post financial results for 2012-13 today.
Profits at City firm Ashurst fell 6% to £105m, as market conditions in Europe and the weakening euro had a ‘marked impact’. Turnover at the firm was flat at £323m, with profit per equity partner dropping 8.6% to £680,000.
Managing partner of Ashurst, James Collis, said the turnover was slightly better than last year.
‘The year was characterised by a difficult first half, a better second half and a strong last quarter. It’s encouraging to see continued strong performance in the beginning of the new financial year.’
National firm Eversheds said it grew profits by 6% but did not disclose a figure. Turnover was up 3% to £376m. PEP increased by 2% to £642,000.
Litigation was strong across the board, with the financial institutions and energy and natural resources sectors growing 20% and 14% respectively, said the firm.
Bryan Hughes, chief executive at Eversheds, said: ‘Maintaining revenue growth was very pleasing, particularly as our revenue line was flat at the half year.’
Revenue at City firm Norton Rose Fulbright increased 3% to £845.3m. Global chief executive at Peter Martyr said the firm was pleased with the increase in turnover given the economic climate. The firm did not release a profit figure.