Covington reports flat revenue and 3.8% drop in profits
Covington & Burling has reported gross revenue of $582.5 million in 2010, a decrease of less than 1 per cent from the $583 million in takings from the precious year.
Profits per equity partner dropped by 3.8 per cent from $1.2 million in 2009 to $1.16 million in 2010.
Covington chairman Timothy Hester said: “We made a number of lateral additions that showed our emphasis on growing and building for the long haul,” pointing out that the firm is better positioned for future growth as a result.
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