LG has joined the ranks of firms announcing a drop in profits of more than 30%, with the City outfit seeing profits per equity partner (PEP) plunge by 35% against a 10% fall in revenue. Average PEP for 2008-09 stood at £281,000, down from £430,000 in 2007-08, while the firm posted revenue of £60.3m, down from a figure of £67.1m set during the previous year. The firm highlighted litigation as a strong performer, with revenues increasing by 10%, but said that corporate revenues had fallen significantly.
July 17, 2009 at 10:50 AM
1 minute read
The original version of this story was published on Legalweek
LG has joined the ranks of firms announcing a drop in profits of more than 30%, with the City outfit seeing profits per equity partner (PEP) plunge by 35% against a 10% fall in revenue.
Average PEP for 2008-09 stood at £281,000, down from £430,000 in 2007-08, while the firm posted revenue of £60.3m, down from a figure of £67.1m set during the previous year.
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