The firm admitted that the performance was “less than budgeted” but stressed that the small rise in revenue had come off the back of a bumper 2006-07 that saw the firm break through the £100m turnover barrier for the first time.
With profitability figures still subject to auditing, it is thought that profits per equity partner will remain relatively static despite a number of departures from the firm over the last 12 months, equalling last year’s mark of £320,000.
Commenting on the results, Beachcroft managing partner Paul Murray said: “Over the last few years we have achieved significant growth across most practice areas and our 2006-07 results were especially good. However, a business like ours needs to continue to develop its services and structures to respond to market and client needs.”
Senior partner Simon Hodson (pictured) added: “We are already brand-leaders in both of our two primary sectors – insurance and health – offering fully-integrated practice offerings to a wide range of leading organisations.”
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The news comes after national rivals Wragge & Co and Pinsent Masons both posted double-digit growth in fee income for the last financial year.