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Paul Jenkins-Article-201607140934 (1)Even opponents to using profit per equity partner (PEP) as a measure of law firm success would struggle to contend that a firm posting a 19% year-on-year fall in profit was in anything other than a challenging position.

In fairness to Ashurst, it hasn’t tried to spin its 2015-16 results. As Legal Week reported on 7 July,  PEP has fallen back to a more than 10-year low of £603,000 after two consecutive years of decline, while revenue fell by 10%.

Georgina Stanley

Georgina Stanley is the editor of Legal Week. She joined the magazine in October 2005 and has since written news, analysis and commentary about a range of leading UK and international commercial law firms, as well as trends in the profession. Before joining Legal Week she worked at several business titles, starting her journalism career at Euromoney.

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