Pinsent Masons has posted a 36 percent drop in profits, with average profits per equity partner (PEP) falling to 310,000 pounds ($507,000).
The drop saw the national firm’s PEP fall from 486,000 pounds ($795,000 in today’s dollars) in 2007-08, with the decline coming against a slight increase in turnover. Revenues grew by 1 percent to 215 million pounds ($351.6 million) in 2008-09, compared with 213 million ($348.4 million in today’s dollars) the previous year.
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