Berwin Leighton Paisner (BLP) and Macfarlanes both saw profits per equity partner (PEP) drop by more than 30% during the last financial year. BLP's PEP fell by 33% during 2008-09, after the firm spent £10m opening new offices and bringing in senior laterals. The drop takes PEP down to £414,000 from £620,000, while turnover fell by 2.7% to £180m from £186m. Net profit at the firm fell by 23% to £57m.
July 16, 2009 at 10:41 AM
1 minute read
The original version of this story was published on Legalweek
Berwin Leighton Paisner (BLP) and Macfarlanes both saw profits per equity partner (PEP) drop by more than 30% during the last financial year.
BLP’s PEP fell by 33% during 2008-09, after the firm spent £10m opening new offices and bringing in senior laterals. The drop takes PEP down to £414,000 from £620,000, while turnover fell by 2.7% to £180m from £185m. Net profit at the firm fell by 23% to £57m.
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