Charles Russell has joined the ranks of firms reporting a drop in profits per equity partner (PEP) of more than 30%. The UK top 50 firm has reported a plunge of 36%, with PEP falling to £235,000 in 2008-09, down from £368,000 the previous year. The firm initially reported a PEP figure of £419,000 for 2007-08; however, this figure reduced as a result of accounting adjustments. The fall in PEP came against a slight dip in turnover to £69.5m, down 3.2% from the £71.8m figure the firm billed in 2007-08.
July 03, 2009 at 10:08 AM
1 minute read
The original version of this story was published on Legalweek
Charles Russell has joined the ranks of firms reporting a drop in profits per equity partner (PEP) of more than 30%.
The UK top 50 firm has reported a plunge of 36%, with PEP falling to £235,000 in 2008-09, down from £368,000 the previous year. The firm initially reported a PEP figure of £419,000 for 2007-08; however, this figure reduced as a result of accounting adjustments.
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