Hogan Lovells reports rise for equity partners
Partners at transatlantic firm Hogan Lovells increased their profit share in the last calendar year, the firm’s latest results indicate. Profit per equity partner rose 4% to £1.035m in the year ending 31 December 2018, up from £996,000 in 2017.
The firm did not provide an overall pre-tax profit figure. Revenue rose from £1.581bn to £1.596bn – a 0.9% increase. Calculated in US dollars, profit per equity partner was $1.381m, up from $1.283m. Revenue was $2.11bn, up from $2.037bn.
Chief executive Steve Immelt said the firm expects an ’increasingly volatile global economy’ in the year ahead, with trade tensions and uncertainty caused by political instability such as Brexit creating a slow-down effect.
He added: ‘Having broken through the $2 billion revenue barrier in 2017 we have consolidated that position with further growth of just over 4% of revenue in 2018, as well as higher increases in revenue per lawyer and profits per equity partner.’
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