Nabarro has become the latest firm to unveil its financial results for 2007-08, posting a double-digit increase in revenue while profits per equity per partner (PEP) increased by 6%.
PEP at the top 30
Meanwhile, with the final figures yet to be confirmed, Nabarro indicated that its pre-accounting turnover was up by 14%, taking total fee income for the last 12 months to £140m.
The modest rise in profitability comes after the firm last year posted a surge of 25.7% in PEP.
Average profits among all partners this year are around £500,000, with 85 of the firm’s 130 partners holding full equity status. Earlier this year Nabarro promoted five new partners internally, making up three in its key real estate practice and one apiece in tax and employment.
Last week the firm hiked its pay for newly-qualified lawyers (NQs) in its
Earlier this week (12 June) rival City firm Stephenson Harwood saw PEP jump by 17% to £620,000, up from £530,000 last year. Fees increased by 19% over the period to £85.3m.
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