Stephenson Harwood has held firm against the recession, posting flat turnover of £85.1m for the 2008-09 financial year.

Profits per equity partner (PEP) dipped marginally by 1.6% to £610,000 from £620,000. Over the last five years the firm’s PEP has grown from £280,000 to £610,000, representing a 118% increase over the period.