Profits per equity partner (PEP) at the top 50
That came despite Trowers posting a 14% increase in turnover to break the £75m barrier, with total billings for the last 12 months coming to £77.6m. Last year the firm posted an 18.4% hike in PEP against a rise of almost 21% in total revenues.
Trowers, which promoted four new partners internally this year, said it had seen the greatest increase in fee income in the Middle East, where the firm has offices in
Commenting on the results, senior partner Jonathan Adlington said: “Our numbers reflect the market place. Growth in the
The news comes with a number of City firms shaking off the effects of the financial downturn to post double-digit increases in both revenue and profits.
Yesterday (12 June) Stephenson Harwood unveiled a 19% hike in fee income to bill £85.3m, while PEP jumped by 17% to a new high of £620,000.
Earlier today Nabarro announced that revenues had risen by 14% to £140m, although partner profits rose by a more modest 6% to £600,000.
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