Charles Russell sees PEP fall by 30% with revenue down 3%
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.
Charles Russell has joined the ranks of firms reporting a drop in profits per equity partner (PEP) of more than 30%.
This premium content is reserved for
Legal Week Subscribers.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now