Travers Smith has posted a solid set of results for the past financial year, with preliminary figures putting the firm above the £800,000 profits per equity partner (PEP) point for the first time.
Partner profits, turnover and total profits at the bellwether City law firm are all up by 15%, with PEP up from £705,000 to £810,000. Fee income climbed from £68.1m last year to a new mark of £78.3m, while total profits jumped from £33m to £38.1m.
The figures place Travers among a group of strong mid-market private equity performers, with City rival Ashurst posting a 36% rise in profits to £956,000 and Taylor Wessing seeing a 13% improvement to £582,000.
Commenting on the results, managing partner Chris Carroll said: “Market conditions continue to favour our model so we should have had a pretty decent year end and we feel that we have.”
He added: “It hasn’t all been down to corporate; we have been busy right across the firm.”
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