BLP announces 8% revenue growth as firm nears £250m mark
Berwin Leighton Paisner (BLP) has announced an 8% rise in revenues for 2011-12, taking total turnover at the firm to almost £250m. The City firm has posted revenues of £246m for the 2011-12 financial year, up from £229m last year. The firm's profits per equity partner (PEP) figure has not yet been finalised.
June 13, 2012 at 07:12 AM
2 minute read
Berwin Leighton Paisner (BLP) has announced an 8% rise in revenues for 2011-12, taking total turnover at the firm to almost £250m.
The City firm has posted revenues of £246m for the 2011-12 financial year, up from £229m last year. The firm's profits per equity partner (PEP) figure has not yet been finalised.
This year's performance comes on the back of a strong showing in 2010-11, when BLP saw PEP soar by 57.5% to £712,000, while revenues grew 20%.
Managing partner Neville Eisenberg (pictured) said: "Everyone [at BLP] felt that this was a good increase. Of course we had a very good increase last year so we were pleased to be able to follow that with another good achievement."
"Two areas were especially worth noting. Revenues from contentious work grew by around 25%, driven in part by more international litigation including developing a disputes capacity in Singapore, while our offices outside London grew revenues by 45% from the previous year."
BLP has this year made a number of eye-catching senior hires, including the additions of former Allen & Overy corporate heavyweight Alan Paul and ex-Linklaters corporate chief David Barnes.
Commenting on PEP expectations, Eisenberg added: "Last year was a big investment year for us. We opened three new offices and hired 30 lateral partners. I do not want to speculate whether PEP will be up or down, but based on this background I would be surprised to see a huge increase."
A number of other City firms have announced single-digit revenue rises so far this year, including Ashurst, which improved revenues by 6% to £322m, and Taylor Wessing, which saw firmwide turnover 7% to £206m during 2011-12.
Meanwhile, firms to have posted double-digit growth have included Bird & Bird, which recorded a 10% hike, and Olswang, which last month announced an impressive 17% rise in revenue to take it over the £100m mark.
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