The top 20
The firm pointed to factors including the refurbishment of its
The news comes after BLP last month reported a 10% increase in turnover, with the firm billing £186m for 2007-08 – up from the £169m it pulled in the previous year.
The figures mean BLP joins just a handful of City firms to report a drop in profitability over the last 12 months. Top 40 outfit Trowers & Hamlins posted an 8% drop in PEP, which dropped from £559,000 last year to £515,000.
The news comes with BLP having announced pay rises for its junior lawyers, including a 5% hike for newly-qualified solicitors to £65,000 and trainees picking up double-digit raises. First and second year trainees will make £37,000 and £40,000 respectively.
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