Norton Rose sees double-digit PEP drop while revenues rise 6%
Norton Rose has become the latest top 10 City firm to unveil its financial results for 2008-09, reporting an increase in fee income but a double-digit fall in profits per equity partner (PEP). The firm's revenues climbed by 6% to £314m compared with the previous year's figure of £297m. However, despite the growth in turnover, PEP fell by 17% down to £517,000 from last year's figure of £625,000. During the previous financial year Norton Rose saw turnover increase by 27.5%, with PEP growing by 22%.
Norton Rose has become the latest top 10 City firm to unveil its financial results for 2008-09, reporting an increase in fee income but a double-digit fall in profits per equity partner (PEP).
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