DLA sees partner profits fall by 18% after tough year in the Middle East
DLA Piper has posted an 18% drop in profits per equity partner (PEP) for 2009-10 after a year in which the firm was severely impacted by market turmoil in the Middle East. The UK top 10 firm saw PEP fall to £527,000 from last year's figure of £645,000, while turnover remained relatively static, dropping by just 1% from the total of £581m took in during 2008-09. DLA Piper joint chief executive Nigel Knowles commented: "We used 2009 to right-size and reposition the business, while 2010 is about strategic planning, developing our client base and taking advantage of new opportunities.
DLA Piper has posted an 18% drop in profits per equity partner (PEP) for 2009-10 after a year in which the firm was severely impacted by market turmoil in the Middle East.
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