Hammonds has pledged average partner profits will this year exceed £200,000, despite recent press reports that average drawings for equity partners could fall to as low as £80,000.
Hammonds’ management this week reaffirmed previous claims that partner profits at the embattled national firm would be around £200,000 for 2004-05, itself a substantial drop from its current average of £276,000. The firm’s managing partner Peter Crossley told Legal Week: “Our position is still as we made clear in February and I stand by what we said.”
