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BLM has posted a 21% increase in profit per equity partner (PEP) for 2016-17, while revenue has fallen from £107.7m to £106.7m.

The firm’s PEP for the year was £232,000, an increase from £192,000 in 2015-16. However, the increase was not enough to take PEP back to its 2014-15 levels, when the firm posted a figure of £265,000.

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