Revenues up but PEP down at Watson Farley and Mills & Reeve
Watson, Farley & Williams (WFW) has seen profits per equity partner (PEP) dip by 13% during 2012-13 despite turnover breaking through the £100m barrier for the first time. After posting a PEP figure of £446,000 in 2011-12, average partner pay has slipped to £388,000 following a year in which the firm invested in a new Frankfurt office which opened in January. Revenue, meanwhile, has risen a little over 2% to £102.1m from £99.8 the previous year – a rise which can be partly attributed to its Hong Kong office which was launched in March 2012.
Watson Farley & Williams has seen profits per equity partner (PEP) dip by 13% despite turnover breaking through the £100m barrier for the first time.
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