Lovells posts 13% jump in PEPs and marginal increase in revenue

July 15, 2010 Lovells, the legacy firm operating outside the Hogan Lovells merged entity, has posted a 13 per cent jump in average profit per equity partner which rose from £586,000 in the 2008-09 financial year to £663,000 in 2009-10.

Revenue grew by 2 per cent last financial year, with the London office contributing 43.3 per cent of fee income. Asia and the Middle East accounted for 9.7 per cent, Europe 42.7 per cent and the US 4.3 per cent.

The firm has less staff than last year, dropping from 3,400 to 3,271, while the number of fee-earners fell from 1856 to 1785. The number of partners grew in the same period, from 349 to 359.

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